Guangxi forges stronger network to draw global investment

Guangxi Zhuang autonomous region aims to optimize its network to attract global investment and draw a batch of high-quality foreign-funded projects this year.

Huang Weiping, director of the region's Investment Promotion Bureau, made the announcement on March 6 during a talk with foreign-funded enterprises. The meeting featured over 50 representatives of key enterprises and overseas foreign trade associations in Guangxi.

Of note, foreign-funded enterprises will receive rewards when investing in Guangxi. For example, those setting up headquarters or introducing major projects with annual utilization of foreign capital in excess of $15 million will receive a one-time reward of up to 100 million yuan ($14 million). 

Meanwhile, intermediary organs that succeed in introducing major foreign-invested projects to Guangxi will be eligible for a reward of up to 5 million yuan. 

Huang noted that Guangxi's actual utilization of foreign capital in 2022 climbed 46.4 percent year-on-year while the corresponding figure for the region's manufacturing industry jumped 72.61 percent.

The region will make full use of the opportunities brought by the 20th anniversary of the establishment of the China-ASEAN Expo to hold a series of activities to attract foreign investment. 

Huang said Guangxi will also establish and optimize a mechanism responsible for assisting foreign-funded enterprises and projects in the region, according to the reconstitution of global supply chains.