Page 102 - 2023 Special Report on the State of Business in South China
P. 102
ngxi
The economy role in the Belt and Road Initiative and improving
the cooperation with ASEAN. The value-added of
Guangxi Zhuang Autonomous manufacturing industry reached an average
Region – abbreviated annual growth rate of 5.0%. Ten 100 billion scale
as Gui – is situated in southwest China, facing industrial clusters were constructed, including
Vietnam across the Beibu Gulf. The province automotive, machinery, high-end new materials,
is not only involved in economic development green chemicals and information technology, etc.
opportunities in Southern China but is also The transformation and upgrading also speeded up,
connected to ASEAN (the Association of with the production of passenger cars, machinery,
Southeast Asian Nation) countries as well as internal combustion engines, electrolytic copper,
being part of the Western Region Development alumina moved upward to the forefront of the
Program. The province has a total area of country. Moreover, the strategic emerging
237,600km247, and population of 50.4 million in industries contributed over 30% of all industries,
202148. The Zhuang people, the largest minority driven by the development of electric vehicle, smart
group in China, accounts for around 31.4% of TV, Smartphone, and optoelectronic devices51.
the total population49. In 2021, Guangxi’s GDP
rose by 7.5% YoY to top RMB2.4 trillion (US$379 As Guangxi enhanced its infrastructure
billion). The region’s new industrial products construction over the past decade, the region’s
such as new energy vehicles, solar cells and foreign trade volume with ASEAN countries rose
optical instruments saw rapid growth in output, from RMB74.75 billion in 2012 to RMB282.12
up 1.6 times, 1.2 times, and 57.1%, respectively. billion in 2021, an average annual growth rate
The key economic hub, Beibu Gulf (contains of 15.8%. Meanwhile, Guangxi has released a
Nanning, Beihai, Fangchenggang and Qinzhou), batch of documents in recent years – such as the
reached a container throughput of 6 million development plan for Guangxi’s digital economy
TEU during 2021, representing a YoY increase of and the action plan for speeding up 5G industrial
18.8%. Xijiang Economic Belt (contains Liuzhou, development in Guangxi – to boost ASEAN-related
Guilin, Wuzhou, Guigang, Yulin, Hezhou and information infrastructure construction and build
Laibin) with GDP reached RMB1,205.2 billion, up the region into a global 5G information hub.
to 16.6% YoY growth50.
Recent Policies and Reforms
Market highlights
The Outline of the 14th Five-Year Plan
During the 13th Five-Year period, Guangxi (2021-2025) for Guangxi Zhuang Autonomous
focused on the transition of manufacturing and Region Economic and Social Development
service industry and kept consolidating its special and the Long-Range Objectives Through the
Year 203552
47 Government site of China, http://www.gov.cn/
guoqing/2019-01/28/content_5361677.htm On 19 April 2021, the Outline of the 14th Five-Year
48 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. Plan (2021-2025) for Guangxi Zhuang Autonomous
cn/tjsj/
49 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. 51 Statistics Bureau of Guangxi, http://tjj.gxzf.gov.
cn/tjsj/tjgb/rkpc/t8851502.shtml cn/tjsj/yjbg/qq_267/t9840586.shtml
50 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. 52 Government site of Guangxi, http://www.gxzf.
cn/tjsj/tjgb/ndgmjjhshfz/t11700299.shtml gov.cn/zfwj/zxwj/t8687263.shtml
102
The economy role in the Belt and Road Initiative and improving
the cooperation with ASEAN. The value-added of
Guangxi Zhuang Autonomous manufacturing industry reached an average
Region – abbreviated annual growth rate of 5.0%. Ten 100 billion scale
as Gui – is situated in southwest China, facing industrial clusters were constructed, including
Vietnam across the Beibu Gulf. The province automotive, machinery, high-end new materials,
is not only involved in economic development green chemicals and information technology, etc.
opportunities in Southern China but is also The transformation and upgrading also speeded up,
connected to ASEAN (the Association of with the production of passenger cars, machinery,
Southeast Asian Nation) countries as well as internal combustion engines, electrolytic copper,
being part of the Western Region Development alumina moved upward to the forefront of the
Program. The province has a total area of country. Moreover, the strategic emerging
237,600km247, and population of 50.4 million in industries contributed over 30% of all industries,
202148. The Zhuang people, the largest minority driven by the development of electric vehicle, smart
group in China, accounts for around 31.4% of TV, Smartphone, and optoelectronic devices51.
the total population49. In 2021, Guangxi’s GDP
rose by 7.5% YoY to top RMB2.4 trillion (US$379 As Guangxi enhanced its infrastructure
billion). The region’s new industrial products construction over the past decade, the region’s
such as new energy vehicles, solar cells and foreign trade volume with ASEAN countries rose
optical instruments saw rapid growth in output, from RMB74.75 billion in 2012 to RMB282.12
up 1.6 times, 1.2 times, and 57.1%, respectively. billion in 2021, an average annual growth rate
The key economic hub, Beibu Gulf (contains of 15.8%. Meanwhile, Guangxi has released a
Nanning, Beihai, Fangchenggang and Qinzhou), batch of documents in recent years – such as the
reached a container throughput of 6 million development plan for Guangxi’s digital economy
TEU during 2021, representing a YoY increase of and the action plan for speeding up 5G industrial
18.8%. Xijiang Economic Belt (contains Liuzhou, development in Guangxi – to boost ASEAN-related
Guilin, Wuzhou, Guigang, Yulin, Hezhou and information infrastructure construction and build
Laibin) with GDP reached RMB1,205.2 billion, up the region into a global 5G information hub.
to 16.6% YoY growth50.
Recent Policies and Reforms
Market highlights
The Outline of the 14th Five-Year Plan
During the 13th Five-Year period, Guangxi (2021-2025) for Guangxi Zhuang Autonomous
focused on the transition of manufacturing and Region Economic and Social Development
service industry and kept consolidating its special and the Long-Range Objectives Through the
Year 203552
47 Government site of China, http://www.gov.cn/
guoqing/2019-01/28/content_5361677.htm On 19 April 2021, the Outline of the 14th Five-Year
48 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. Plan (2021-2025) for Guangxi Zhuang Autonomous
cn/tjsj/
49 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. 51 Statistics Bureau of Guangxi, http://tjj.gxzf.gov.
cn/tjsj/tjgb/rkpc/t8851502.shtml cn/tjsj/yjbg/qq_267/t9840586.shtml
50 Statistics Bureau of Guangxi, http://tjj.gxzf.gov. 52 Government site of Guangxi, http://www.gxzf.
cn/tjsj/tjgb/ndgmjjhshfz/t11700299.shtml gov.cn/zfwj/zxwj/t8687263.shtml
102
