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China (Guangxi) Pilot Free Trade Zone (CFTZ) Further Strengthens China-Malaysia Cooperation

2020-06-26 09:11:50   By:China-ASEAN Panorama   Hits:

CFTZ brings China-Malaysia Qinzhou Industrial Park (CMQIP) with tangible benefits

By making full use of the advantages of CFTZ, the New International Land-Sea Trade Corridor, “Two Countries, Twin Parks” and the integration of the Beibu Gulf, and upholding the spirit of boldly and independently developing CFTZ, the government of Guangxi Zhuang Autonomous Region synergizes “four areas” together (including Qinzhou Port Area of CFTZ, CMQIP, Guangxi Qinzhou Free Trade Port Area, and Qinzhou Port Economic and Technological Development Zone) to foster the Qinzhou Port Waterfront Area, which covers a total area of 207 square kilometers. In this way, CMQIP can enjoy favorable policies from CFTZ, the New International Land-Sea Trade Corridor in fields like bonded storage, port bonded logistics, etc. It brings practical benefits to Malaysian enterprises.

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Two Countries, Twin Parks

Taking Malaysia MMC Corporation as an example. The MMC Corporation had to coordinate with the Guangxi Qinzhou Free Trade Port Area Administration Committee, customs joint inspection agencies, and other sectors, when above sectors were under different administrative systems. Therefore, complicated paperwork and procedures impeded the successful landing of the palm oil storage base. The integration of Qinzhou Free Trade Port Area Administration Committee and CMQIP Administration Committee has streamlined the approval process, providing convenience for Malaysian enterprises in CMQIP.

The system and mechanism of CMQIP remain unchanged under CFTZ

Based on the original system and mechanism of CMQIP, the CMQIP Administration Committee and Qinzhou Port Area of CFTZ are working together to explore a management system with local characteristics.

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CFTZ to Energize the Development of CMQIP

CFTZ widens China-Malaysia cooperation

CMQIP covers an area of 55 square kilometers, among them, 16.05 square kilometers of CMQIP has been granted with preferential policies of CFTZ. At present, the development and construction of CMQIP is speeding up. A number of major projects are under construction, including the deep processing of Taijia ultrathin glass substrate, with a total investment of RMB 10 billion yuan, and the standard workshop of Malaysian SMEs, with a total investment of RMB 1.56 billion yuan. 

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CFTZ to Energize the Development of CMQIP

What’s more, eleven bird’s nest enterprises have signed to settle down in the park, among which, three of them have already begun production, and five of them are preparing for production. Besides, a number of public supporting facilities have been put into use, including hotels, primary and secondary schools, and apartment buildings, shaping a new modern industrial park.

 

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