REGIONAL> Development
Beibu Bay economic zone boosts Guangxi's foreign trade
(Xinhua)
Updated: 2008-05-15 14:50

The Beibu Bay economic zone, in the southern Guangxi Zhuang Autonomous Region, has greatly boosted the region's exports and imports, said a government official.

In the first four months this year, the volume of exports and imports at Guangxi's ports hit $5.51 billion, an increase of 77.8 percent over the same period last year, according to statistics of the customs in Nanning, the regional capital.

In the first three months, the exports and imports in the Beibu Bay economic zone reached $1.34 billion, a year-on-year rise of 84 percent, accounting for 44.8 percent of the region's total.

"The boom of Beibu Bay revitalizes the foreign trade of Guangxi which is a bridgehead between China and the Association of Southeast Asian Nations (ASEAN)," said Chen Ruixian, an official in charge of the Beibu Bay Office.

The economic zone has attracted a large number of investors and enterprises since its development plan was approved by the State Council, China's Cabinet, in January to promote the development of the southwest and south and increase China's cooperation with ASEAN, Chen said.

Among the region's foreign trade, most of the imports were mineral and agricultural products while the exports were mostly mechanical and electrical products and steel.

"The upgrading of Guangxi's transport network has also contributed to the growth of foreign trade," Dai Zhiqiang, an official at the Nanning customs, said.

"As of April, Guangxi's ports had established business contacts with 119 countries and regions," Dai said.

With a population of 12.4 million, the Beibu Bay economic zone covers 42,500 square km of land and 130,000 square km of sea. It will be developed into a regional logistics, trade and manufacturing base between China and the ASEAN.

China's 11th five-year program for developing its west has placed the Beibu Bay economic zone as one of the three economic development zones in the west which enjoy priority in economic expansion.