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                                Xinhua Credit
                                Policy

                                Guangxi unveils plan to boost China-ASEAN co-op in FTA

                                February 14, 2020


                                Abstract : South China's Guangxi Zhuang Autonomous Region has recently unveiled an action plan on construction of China (Guangxi) Pilot Free Trade Zone (FTZ), highlighting China-ASEAN cooperation in the construction of Guangxi FTZ.

                                BEIJING, Feb. 14 (Xinhua) – South China's Guangxi Zhuang Autonomous Region has recently unveiled an action plan on construction of China (Guangxi) Pilot Free Trade Zone  (FTZ), highlighting China-ASEAN cooperation in the construction of Guangxi FTZ.

                                According to the action plan, the Guangxi FTZ is expected to produce results in the cooperation with the ASEAN members, and strive to become the bellwether of high-quality China-ASEAN cooperation.

                                The plan shows that measures will be taken to expand the internal and external opening up of the financial sector and facilitate the use of RMB facing ASEAN countries, while restrictions on foreign employee’s working conditions are relatively loosened.

                                To be specific, Guangxi FTZ will ease the age limit on work permits for foreign employees with high-level qualifications and offer favorable welfares to those qualified employees in the fields of housing, education, and health care.

                                The plan also specified international cooperation on production capacity, setting a target of building a regional global processing and manufacturing base in Guangxi.

                                As for infrastructure cooperation, efforts will be made to expand the operation of railway container freight trains as well as road shuttle buses between China and Vietnam, extend the scope of the through freight train between the two countries connecting with more cities in western China.

                                According to the plan, Guangxi will strive to construct railways linking the city of Pingxiang with Vietnam, Thailand, and Malaysia, promoting the construction of China-Indochina Peninsula Economic Corridor.

                                Approved to be set up in August last year, Guangxi FTZ covers an area of 119.99 square kilometers, covering FTZ areas of Guangxi's capital Nanning, Qinzhou Port, and city of Chongzuo.

                                It is noted that the relevant plans issued by the State Council require Guangxi to give full play to its unique geographical advantages of being adjacent to the ASEAN countries, to form a critical gateway for the Belt and Road (B&R) construction.  (Edited by Jiang Feifan)

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                                Keyword: FTZ ASEAN China-ASEAN

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