RCEP countries establish 14 companies in Guangxi in Q1

In the first quarter of this year, Regional Comprehensive Economic Partnership (RCEP) member countries established 14 foreign-funded enterprises in Guangxi, a year-on-year increase of 133.3 percent.

The contractual foreign capital of RCEP member states in Guangxi was $29.98 million, a year-on-year increase of 245.4 percent, and the actual utilization of foreign capital was $19.79 million, a year-on-year increase of 691.6 percent.

From March to April this year, the Standing Committee of Guangxi Zhuang Autonomous Region People's Congress set up a group to conduct special research on the utilization of foreign capital in Guangxi under the RCEP. They found that Guangxi's advantageous location is  increasingly prominent in terms of matchmaking for projects under the RCEP.

From 2010 to 2021, 418 foreign-funded enterprises were established in Guangxi by RCEP member countries, accounting for 14.38 percent of the total number of foreign-funded enterprises established in the region during the period. The actual foreign capital introduced by Guangxi from other RCEP member countries was $1.4 billion, accounting for 11.33 percent of the total foreign capital actually utilized by Guangxi during this period.

RCEP countries established 14 companies in Guangxi in the first quarter. [Photo/WeChat account: gh_df8bc987e060]