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Guangxi sees improvement in quality of its foreign trade

Updated: Aug 15, 2023 Print
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The total import and export value of foreign trade by the Guangxi Zhuang autonomous region in South China hit 393.51 billion yuan ($54.24 billion) in the first seven months of the year.

That represented a year-on-year increase of 34.4 percent. Breaking the numbers down, the exports of electric cars, lithium batteries and solar cells made by Guangxi enterprises soared to 6.71 billion yuan.

That was a year-on-year surge of 207.3 percent, according to the statistics provided by the Nanning Customs on Aug 11.

Nanning Customs' Deputy Director Yang Baoqing said the shift from the traditional "big three" of clothing, household appliances and furniture to the current "new three" reflected the further optimization of Guangxi's export commodity structure and the steady improvement in the quality of its foreign trade.

Yang added that the "new three" products from Guangxi were mainly being exported by private enterprises and foreign-invested enterprises. 

The top three export markets are the European Union, ASEAN and India. Electric passenger cars are mainly exported to the EU market, lithium batteries to the Indian market and solar cells to the ASEAN market.

To accelerate the overseas expansion of the "new three" products, Guangxi has introduced a raft of measures this year to support foreign trade enterprises to boost their international competitiveness. Moreover, it is coordinating financial support, credit insurance and other aspects to encourage businesses to expand their exports.

Yang Chunting, director of the commerce department of Guangxi, said that in the future the region would provide precise services for market expansion, customs clearance facilitation, policy demands and other aspects for the export of "new three" products. 

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