Guangxi’s Trade with Belt and Road Countries Soars, Driving Regional Growth
Nanning, China – Guangxi Zhuang Autonomous Region has witnessed a robust surge in itstrade with Belt and Road Initiative (BRI) countries this year, significantly contributing to the region’s overall foreign trade growth, according to data released by NanningCustoms on October 16th.
During the first three quarters of 2024, Guangxi’s total foreign trade volume reached 521.7 billion yuan (approximately $72.5 billion), marking a 9.1% year-on-year increase. This growth is largely attributed to the strong performance of trade with BRI countries, highlighting the region’s strategicposition within the initiative.
The flourishing trade with BRI countries underscores Guangxi’s commitment to the initiative and its role as a key gateway for China’s economic engagement with Southeast Asia and beyond. This strategic location has facilitated the flow of goods andservices, fostering economic cooperation and development within the region.
The positive trade figures reflect the growing economic ties between Guangxi and BRI countries. The region has actively promoted trade and investment cooperation, leveraging its geographical advantages and infrastructure development to attract foreign investment and facilitate cross-border trade.
Guangxi’s success in expandingtrade with BRI countries is a testament to the initiative’s positive impact on regional economic growth. As the initiative continues to gain momentum, Guangxi is well-positioned to further capitalize on its strategic location and contribute to the shared prosperity of BRI countries.
References:
- China News Service. (2024, October 16). Guangxi’s Trade with Belt and Road Countries Soars, Driving Regional Growth. [News article]. Retrieved from https://www.chinanews.com/gn/2024/10-16/9765439.shtml
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