Advertisement
Advertisement

Guangxi seeking approval for zones

Guangxi province is seeking approval from Beijing to set up free trade zones and export processing zones to boost its underdeveloped economy.

Guangxi, the only province in southern China entitled to benefit from Beijing's Go-West development programme, would try to boost foreign trade, especially with countries in the Association of Southeast Asian Nations, the provincial vice-chairman Zhang Wenxue said yesterday.

Mr Zhang said his province proposed to set up a bonded zone for export processing in the southern port city of Beihai, and a free trade zone in the two cities that border with Vietnam: Dongxing and Pingxiang.

The zones would be modelled on those in Guangdong province, its prosperous neighbour.

Mr Zhang said the proposal had yet to receive approval from Beijing, although applications had been made.

Guangxi has long been deprived of infrastructure funding because of China's uneasy relations with Vietnam.

In 1996, Beijing earmarked Guangxi to be the gateway to the sea for the landlocked southwestern provinces of Yunnan, Sichuan and Guizhou.

Railways and highways have been or will be constructed to connect the inland southwestern provinces to Guangdong through Guangxi.

'As we are advantageously located, we must seize this opportunity,' Mr Zhang said.

Next week, Guangxi will bring about US$8 billion worth of projects to Hong Kong to attract foreign investment.

Mr Zhang said foreign investment had been projected to account for a third of the 450 billion yuan (about HK$421.78 billion) total investment to be pumped into the province in the 10th Five Year Plan.

Post