It’s understood recently from Nanning Central Sub-branch of the People’s Bank of China that for the past 10 years, economic exchanges between Guangxi and ASEAN countries have been increasing continuously with a large bilateral trading scale and a fast growth rate.
From 2010 to 2019, the total value of bilateral trade amounted to 211.9 billion yuan, an average increase of 19.9%, 10.7% more than the figure between China as a whole and ASEAN countries. As an autonomous region sharing boundaries with ASEAN, with favorable policies for the construction of the 「Belt and Road」 Initiative, the border financial comprehensive reform pilot area and Financial Opening-up Gateway for ASEAN, Guangxi has made great strides in expanding trade relations with ASEAN, and ASEAN has been Guangxi’s largest trading partner for 20 years consecutively.