BUSINESS South China region posts foreign investment growth despite epidemic

BUSINESS

South China region posts foreign investment growth despite epidemic

Xinhua

19:18, August 24, 2020

A cargo ship docks at Qinzhou Port in China-ASEAN Free Trade Area in Qinzhou, Guangxi Zhuang autonomous region, on July 11, 2020. (Photo: Xinhua)

NANNING -- South China's Guangxi Zhuang autonomous region has reported robust growth in foreign investment in the first seven months of 2020 despite the COVID-19 epidemic.

The total foreign investment utilized in Guangxi reached $675 million, a year-on-year increase of 17.4 percent, according to the region's investment promotion bureau.

Guangxi's attempts to woo foreign investors were boosted by the region's ongoing building of a pilot free trade zone (FTZ).

A total of 194 foreign-funded enterprises, including 40 in the Guangxi pilot FTZ, were newly established during the January-July period. Contractual foreign investment totaled $2.68 billion, up 56.4 percent year-on-year.

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