Page 104 - 2020 Special Report on the State of Business in South China
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innovative rural financial products and services, competitiveness, push forward quality, efficiency
and rural credit project financing mechanisms. and driver changes in economic development, and
This is done by the following: strive to build a high-standard and high-quality
free trade park which has beneficial trade and
- Increase the effective supply of financial investment, sound financial services, secure and
services for rural rejuvenation by focusing on efficient supervision, and a prominent radiative
poverty alleviation and on providing precise and driving role, leading to open cooperation
financial services, focusing on industrial prosperity between China and ASEAN.
and on providing diversified financial services,
focusing on providing specialized financial The Guangxi PFTZ consists of three areas: the
services for ecological livability, and focusing on Nanning Area, the Qinzhou Port Area and the
rural customs and culture to provide targeted Chongzuo Area. The Nanning Area shall focus on
financial services. developing modern finance, intelligent logistics,
digital economy, culture, media and other
- Improve comprehensive financial service modern service industries, develop emerging
systems suitable for rural revitalization by improving manufacturing industries, and develop into the
rural financial organization systems, rural credit core zone of a financial portal open to ASEAN
systems, agricultural insurance systems, agricultural and an important node along the new channel
guarantee systems, rural payment and village-level of international land and sea trade. The Qinzhou
financial service systems, and rural property right Port Area shall focus on developing port and
transfer and transaction systems. shipping logistics, international trade, green
chemical, key new-energy vehicle components,
- Provide innovative financial service products electronic information, biomedicine and other
and methods for rural areas by actively and industries, and develop into a portal port in the
steadily launching credit business for rural small new channel of international land and sea trade
and micro enterprises, flexibly using accounts and a sea-oriented economic agglomeration area.
receivable financing service platforms, and The Chongzuo Area shall focus on developing
supporting financial institutions to provide cross-border trade, cross-border logistics, cross-
innovative agricultural loan products. border finance, cross-border tourism and cross-
border labor cooperation, and develop into a
Overall Plan for the China (Guangxi) demonstration zone of cross-border industrial
Pilot Free Trade Zone cooperation and a land portal in the new channel
of international land and sea trade. This is done by
On August 26, 2019, the State Council released the following:
the “Overall Plan for the China (Guangxi) Pilot
Free Trade Zone” (the “Guangxi PFTZ Plan”), which - Deepen the reform of investment through
proposes that the Guangxi PFTZ should meet the promoting investment liberalization and
requirements of the CPC Central Committee by: facilitation, improving investment promotion and
(i) building new strategic pivotal points to open up protection mechanisms, and increasing the level of
and develop southwest and central south China; overseas investment cooperation.
(ii) leveraging the unique advantages of Guangxi's
land and sea adjacency to ASEAN countries; and (iii) - Promote trade transformation and
developing the region as a seaport for southwest, upgrading by increasing the level of trade
central south and northwest China, which can be a facilitation and cultivating new business formats
new channel for international land-sea trade with and trade models.
ASEAN countries by connecting the 21st-Century
Maritime Silk Road and the Silk Road Economic - Deepen the opening up and innovation of
Belt. After three to five years of reform and the financial sector by building an open financial
exploration, the Guangxi PFTZ shall benchmark portal for ASEAN and promoting the facilitation of
against internationally advanced rules, achieve cross-border investment and financing.
institutional innovation with regard to international
104
and rural credit project financing mechanisms. and driver changes in economic development, and
This is done by the following: strive to build a high-standard and high-quality
free trade park which has beneficial trade and
- Increase the effective supply of financial investment, sound financial services, secure and
services for rural rejuvenation by focusing on efficient supervision, and a prominent radiative
poverty alleviation and on providing precise and driving role, leading to open cooperation
financial services, focusing on industrial prosperity between China and ASEAN.
and on providing diversified financial services,
focusing on providing specialized financial The Guangxi PFTZ consists of three areas: the
services for ecological livability, and focusing on Nanning Area, the Qinzhou Port Area and the
rural customs and culture to provide targeted Chongzuo Area. The Nanning Area shall focus on
financial services. developing modern finance, intelligent logistics,
digital economy, culture, media and other
- Improve comprehensive financial service modern service industries, develop emerging
systems suitable for rural revitalization by improving manufacturing industries, and develop into the
rural financial organization systems, rural credit core zone of a financial portal open to ASEAN
systems, agricultural insurance systems, agricultural and an important node along the new channel
guarantee systems, rural payment and village-level of international land and sea trade. The Qinzhou
financial service systems, and rural property right Port Area shall focus on developing port and
transfer and transaction systems. shipping logistics, international trade, green
chemical, key new-energy vehicle components,
- Provide innovative financial service products electronic information, biomedicine and other
and methods for rural areas by actively and industries, and develop into a portal port in the
steadily launching credit business for rural small new channel of international land and sea trade
and micro enterprises, flexibly using accounts and a sea-oriented economic agglomeration area.
receivable financing service platforms, and The Chongzuo Area shall focus on developing
supporting financial institutions to provide cross-border trade, cross-border logistics, cross-
innovative agricultural loan products. border finance, cross-border tourism and cross-
border labor cooperation, and develop into a
Overall Plan for the China (Guangxi) demonstration zone of cross-border industrial
Pilot Free Trade Zone cooperation and a land portal in the new channel
of international land and sea trade. This is done by
On August 26, 2019, the State Council released the following:
the “Overall Plan for the China (Guangxi) Pilot
Free Trade Zone” (the “Guangxi PFTZ Plan”), which - Deepen the reform of investment through
proposes that the Guangxi PFTZ should meet the promoting investment liberalization and
requirements of the CPC Central Committee by: facilitation, improving investment promotion and
(i) building new strategic pivotal points to open up protection mechanisms, and increasing the level of
and develop southwest and central south China; overseas investment cooperation.
(ii) leveraging the unique advantages of Guangxi's
land and sea adjacency to ASEAN countries; and (iii) - Promote trade transformation and
developing the region as a seaport for southwest, upgrading by increasing the level of trade
central south and northwest China, which can be a facilitation and cultivating new business formats
new channel for international land-sea trade with and trade models.
ASEAN countries by connecting the 21st-Century
Maritime Silk Road and the Silk Road Economic - Deepen the opening up and innovation of
Belt. After three to five years of reform and the financial sector by building an open financial
exploration, the Guangxi PFTZ shall benchmark portal for ASEAN and promoting the facilitation of
against internationally advanced rules, achieve cross-border investment and financing.
institutional innovation with regard to international
104
