Amid global economic uncertainties, the Guangxi Zhuang Autonomous Region has shown remarkable resilience and growth in its foreign trade sector.
Recent customs data revealed that Guangxi's total imports and exports surged to 345.28 billion yuan ($47.57 billion) in the first half of the year, reflecting a significant 12 percent increase compared to the same period last year. This growth rate outpaced the national average for foreign trade expansion.
Exports saw a notable rise, reaching 191.8 billion yuan, representing a 28.5 percent year-on-year increase. This marks the first time exports have exceeded 150 billion yuan within this timeframe.
Private enterprises played a crucial role in this growth, demonstrating stability and resilience. Their import and export volume soared to 238.17 billion yuan, accounting for 69 percent of Guangxi's total foreign trade.
The region's trade with its largest partner, the Association of Southeast Asian Nations (ASEAN), also showed strong performance. Imports and exports with ASEAN reached 185.62 billion yuan, a 26.7 percent increase. Trade with emerging markets in Latin America and Africa also grew faster than the overall trend.
The Vietnamese manufacturing sector benefited from a global demand recovery, with the region's exports of intermediate goods to Vietnam reaching 63.67 billion yuan, up 50.3 percent year-on-year. Exports of intermediate electronic information products, including integrated circuits, computer components, lithium-ion batteries, and audio-visual equipment components, doubled during this period.
Trade through ports involving major cities in the Guangdong-Hong Kong-Macao Greater Bay Area totaled 70.46 billion yuan, with over 80 percent of this trade conducted with ASEAN member economies.
The "13+2" provinces and regions along the New International Land-Sea Trade Corridor traded goods and services worth 323.39 billion yuan through Guangxi ports in the first half, a 17 percent increase.
A senior official from the region's Department of Commerce highlighted the region's improved service mechanisms for key foreign trade projects, strengthened industry-trade linkages, and identified 30 major industrial projects with a total import and export volume of approximately 80 billion yuan, generating an incremental volume of about 20 billion yuan since the start of 2024.
The "Products Go Global" event in Japan facilitated the entry of 72 companies and numerous high-quality specialty products into the Japanese market.
Additionally, the region is advancing its "same source of medicine and food" initiative and has expanded the scope of goods eligible for customs facilitation reform to 39 categories. In the first half, the region imported 11,000 metric tons of goods through the reform, marking a notable 91.3 percent year-on-year increase.
The senior official emphasized the region's commitment to enhancing collaboration with Vietnam and other ASEAN nations in the production and trade sectors, fostering deeper integration of industrial, supply, and value chains, and bolstering the export of intermediate goods.
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