Guangxi’s investment attraction bears fruit in 2020

Guangxi Zhuang autonomous region made great strides in 2020 in terms of attracting investment from State-owned companies, private companies, and Greater Bay Area companies, said Yang Chunting, director of the Investment Promotion Agency of Guangxi Zhuang Autonomous Region, on Jan 6.

Guangxi agreed a total of more than 2,300 investment projects with the aforementioned companies in 2020, with an overall investment of 3.4 trillion yuan ($525.97 billion). In commerce and trade, its utilized foreign capital amounted to $1.02 billion in the first 11 months of 2020, an increase of 12 percent year-on-year.

"Around 78 percent of the projects signed have been implemented. Over 1,200 projects have started construction with an overall investment of more than 1.1 trillion yuan," said Yang.

Yang added that 46 outstanding companies inducing Fortune Global 500 companies have settled in Guangxi and more than 50 percent of the projects invested in by these companies are in major industries such as manufacturing, information technology, big health and medicine, offering new vitality to Guangxi's development.

Guangxi has been speeding up the establishment of a global investment attraction network, setting up 25 promotional offices in areas including Europe, Southeast Asia, Hong Kong, Macao, Taiwan, the Pearl River Delta and the Yangtze River Delta.

In addition, Yang said that Guangxi will further loosen its limits on foreign investment and release preferential policies to strengthen the confidence of foreign investors over the long term.