[photopress:Industrial_zone_guangxi_1.jpg,full,alignright]As reported here on February 25 China’s central government has given the nod of approval to China’s first international and regional economic cooperation zone in Guangxi. The construction of the Beibu Gulf Economic Zone began in 2006. Now, with this approval, the Beibu Gulf Economic Zone will be formally incorporated into national development strategies.
The Beibu Gulf Economic Zone covers six coastal cities along the Beibu Gulf. It integrates the cities of Nanning, the region’s capital, Beihai, Qinzhou, Fangchenggang, Chongzuo and Yulin.
Qinglin Jia, China’s top political advisor said in a statement, ‘The state will adopt policies and measures to support mechanism innovation, rational industry layout and infrastructure construction in the Beibu Gulf Economic Zone.’
Perhaps more importantly the Guangxi municipality has pledged RMB100 billion yuan ($14 billion) investment over the next five years for building and repairing 2,500 kilometers of railways to form a network hub in the area.
Officials say that the Beibu Gulf Zone will serve as the logistics base, business base, processing and manufacturing base and information exchange center for China-ASEAN cooperation.
Zhenghui Peng, professor of Peking University, Beijing, said in a statement, ‘Beibu Gulf Zone may turn out to be a new economic lead in driving China’s coastal economy because Guangxi boasts so many advantages.
‘For one thing, as the only land and sea link between China and ASEAN, Beibu Zone will benefit from the rapid economic development of both and the heating-up of China-ASEAN relationship.
‘For another, Guangxi connects China’s east, centraland west. China’s sustainable economic development entails “industries complementing each other” and “traffic connectivity”, which will bring tremendous opportunities to Guangxi.’
Source: Emerging China