Launching More Incentive Policies for a More Open GFTZ Written by Li Min

Zhou He

Since the unveiling of the GFTZ， people from all fields have been paying attention to what kind of policies Guangxi will come up with to support its development. Chen Wu， Chairman of Guangxi Zhuang Autonomous Region， also pointed out that the whole region should promote the high-quality development of the GFTZ and formulate effective and strong polices.

Think big and start small. In December 2019， Guangxi issued the Supporting Policies for Promoting High-Quality Development of GFTZ， which introduced 30 preferential measures in 11 aspects， including the support for the agglomeration and development of advanced manufacturing industries， known as “30 policies for GFTZ”. It involves finance， taxation， settlement and other contents， showing people the governments determination to develop the GFTZ. Therefore， how can domestic and foreign enterprises and talents share these “red envelopes” of opening-up？

Step by step， in accordance with Guangxis demands

As the first pilot free trade zone in China that was set up in ethnic regions， the GFTZ has the advantages of being adjacent to ASEAN and coastal borders as well as the disadvantages of being weak at industrial development foundation. How to make the best of the advantages and make up for the disadvantages were the major concern when the government was tailoring policies for the GFTZ.

According to Jiang Liansheng， Deputy Commander of the GFTZ construction headquarter and Head of Department of Commerce of Guangxi， the aim of the “30 policies for GFTZ” is to build a development path of “trinity” — with institutional innovation as the core， policy innovation as the backbone and industrial development as the direction， to promote the resource sharing and advantages complementing with platforms such as the financial open gate oriented towards ASEAN， China-ASEAN Information Harbor， “Two Countries， Twin Parks” of China and Malaysia， and key pilot free trade zones along the borders， to build a industrial system with distinct characteristics.

Jiang also said， at present， the foundation of Guangxis industrial development is relatively weak and the modern industrial supporting facilities need perfecting. So reducing the costs of operation for enterprises and improving the competitiveness of the industry are urgent affairs for accelerating the industrial development. Therefore， it is vital to enhance enterprises sense of gaining and the vitality of open economy.

Preferential policies you need to know