Page 104 - 2022 Special Report on the State of Business in South China
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Guangxi
The Economy Market Highlights
Guangxi Zhuang Autonomous During the 13th Five-Year period, Guangxi
Region – abbreviated focused on the transition of manufacturing and
as Gui – is situated in southwest China, facing service industry and kept consolidating its special
Vietnam across the Beibu Gulf. The province role in the “One Belt and One Road” initiative and
is not only involved in economic development improving the cooperation with ASEAN. The value-
opportunities in Southern China but is also added of manufacturing industry reached an
connected to ASEAN (the Association of average annual growth rate of 5.0%. Ten 100 billion
Southeast Asian Nation) countries as well as scale industrial clusters were constructed, including
being part of the Western Region Development automotive, machinery, high-end new materials,
Program. The province has a total area of 237,600 green chemicals and information technology, etc.
square kilometers54, and population of 50.1m in The transformation and upgrading also speeded up,
202055. The Zhuang people, the largest minority with the production of passenger cars, machinery,
group in China, accounts for around 31.4% of internal combustion engines, electrolytic copper,
the total population56. In 2020, Guangxi's GDP alumina moved upward to the forefront of
reached RMB2,215.7 billion, ranking 19th out the country. Moreover, the strategic emerging
of China's 31 provinces. The primary industry industries contributed over 30% of all industries,
remained a critical part of the economy while driven by the development of electric vehicle, smart
the share of tertiary industry (contributed 58.2% TV, Smartphone, and optoelectronic devices60.
of GDP) such as service sector was relatively
lower when compared to other provinces57. The In 2020, the value-added of service industry
key economic hubs of Guangxi locate in Beibu reached RMB1149.2 billion, with an average annual
Gulf (contains Nanning, Beihai, Fangchenggang, growth of 8% from 2016 to 2020. The proportion
Qinzhou) with GDP reached RMB812.4 billion of value-added of service industry increased
and Xijiang Economic Belt (contains Liuzhou, from 46.2% in 2015 to 51.9% in 2020, making
Guilin, Wuzhou, Guigang, Yulin, Hezhou, Laibin) the service industry become the main force of
with GDP reached RMB1,096.2 billion, totally regional economic development. Particularly, the
accounted 86.1% of the region’s economy size58. traditional service industries maintained steady
In the first half of 2021, Guangxi maintained growth, such as transportation and logistics (value-
steadily recovery with GDP reached RMB1,178.7 added growth of 4.5%) and the wholesale and retail
billion and 12.0% YoY growth59. (value-added growth of 5.4%). Additionally, modern
service sectors also developed rapidly, driven by
54 Government site of China, http://www.gov.cn/ the financial and the real estate industries, which
guoqing/2019-01/28/content_5361677.htm saw an average annual growth of 7.8% and 9.9%,
55 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. respectively. As the southwest gate of China,
cn/tjsj/tjgb/rkpc/t8851502.shtml Guangxi also makes great efforts on developing
56 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. international trade. In past five years, the import and
cn/tjsj/tjgb/rkpc/t8851502.shtml export trade of Guangxi increased from RMB318.5
57 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. billion to RMB486.8 billion, with a cumulative total
cn/tjsj/tjgb/ndgmjjhshfz/t8851271.shtml of RMB2073.4 billion and an average annual growth
58 Statistics Bureau of Guangxi, http://tjj.gxzf.gov.
cn/tjsj/tjgb/ndgmjjhshfz/t8851271.shtml 60 Statistics Bureau of Guangxi, http://tjj.gxzf.gov.
59 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. cn/tjsj/yjbg/qq_267/t9840586.shtml
cn/tjsj/jdsj/qqydgmjjzyzb/t9547771.shtml
104
The Economy Market Highlights
Guangxi Zhuang Autonomous During the 13th Five-Year period, Guangxi
Region – abbreviated focused on the transition of manufacturing and
as Gui – is situated in southwest China, facing service industry and kept consolidating its special
Vietnam across the Beibu Gulf. The province role in the “One Belt and One Road” initiative and
is not only involved in economic development improving the cooperation with ASEAN. The value-
opportunities in Southern China but is also added of manufacturing industry reached an
connected to ASEAN (the Association of average annual growth rate of 5.0%. Ten 100 billion
Southeast Asian Nation) countries as well as scale industrial clusters were constructed, including
being part of the Western Region Development automotive, machinery, high-end new materials,
Program. The province has a total area of 237,600 green chemicals and information technology, etc.
square kilometers54, and population of 50.1m in The transformation and upgrading also speeded up,
202055. The Zhuang people, the largest minority with the production of passenger cars, machinery,
group in China, accounts for around 31.4% of internal combustion engines, electrolytic copper,
the total population56. In 2020, Guangxi's GDP alumina moved upward to the forefront of
reached RMB2,215.7 billion, ranking 19th out the country. Moreover, the strategic emerging
of China's 31 provinces. The primary industry industries contributed over 30% of all industries,
remained a critical part of the economy while driven by the development of electric vehicle, smart
the share of tertiary industry (contributed 58.2% TV, Smartphone, and optoelectronic devices60.
of GDP) such as service sector was relatively
lower when compared to other provinces57. The In 2020, the value-added of service industry
key economic hubs of Guangxi locate in Beibu reached RMB1149.2 billion, with an average annual
Gulf (contains Nanning, Beihai, Fangchenggang, growth of 8% from 2016 to 2020. The proportion
Qinzhou) with GDP reached RMB812.4 billion of value-added of service industry increased
and Xijiang Economic Belt (contains Liuzhou, from 46.2% in 2015 to 51.9% in 2020, making
Guilin, Wuzhou, Guigang, Yulin, Hezhou, Laibin) the service industry become the main force of
with GDP reached RMB1,096.2 billion, totally regional economic development. Particularly, the
accounted 86.1% of the region’s economy size58. traditional service industries maintained steady
In the first half of 2021, Guangxi maintained growth, such as transportation and logistics (value-
steadily recovery with GDP reached RMB1,178.7 added growth of 4.5%) and the wholesale and retail
billion and 12.0% YoY growth59. (value-added growth of 5.4%). Additionally, modern
service sectors also developed rapidly, driven by
54 Government site of China, http://www.gov.cn/ the financial and the real estate industries, which
guoqing/2019-01/28/content_5361677.htm saw an average annual growth of 7.8% and 9.9%,
55 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. respectively. As the southwest gate of China,
cn/tjsj/tjgb/rkpc/t8851502.shtml Guangxi also makes great efforts on developing
56 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. international trade. In past five years, the import and
cn/tjsj/tjgb/rkpc/t8851502.shtml export trade of Guangxi increased from RMB318.5
57 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. billion to RMB486.8 billion, with a cumulative total
cn/tjsj/tjgb/ndgmjjhshfz/t8851271.shtml of RMB2073.4 billion and an average annual growth
58 Statistics Bureau of Guangxi, http://tjj.gxzf.gov.
cn/tjsj/tjgb/ndgmjjhshfz/t8851271.shtml 60 Statistics Bureau of Guangxi, http://tjj.gxzf.gov.
59 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. cn/tjsj/yjbg/qq_267/t9840586.shtml
cn/tjsj/jdsj/qqydgmjjzyzb/t9547771.shtml
104
