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Foreign Trade More than Triples in Xinjiang


Post Date: 14 Feb 2011    Viewed: 557

Foreign trade in far west China's Xinjiang Uygur Autonomous Region grew rapidly over the past five years, regional authorities said Saturday.

From 2006 to 2010, the region's foreign trade amounted to 76 billion U.S. dollars, more than 230 percent more than the 2001-2005 period, said He Yiming, director of the Xinjiang Autonomous Regional Department of Commerce.


Foreign direct investment in Xinjiang totaled 870 million dollars over the past five years, more than triple that of the 2001-2005 period, he said.


"Over the past five years, Xinjiang has taken advantage of its geographical location to strengthen economic links with neighboring countries and explore markets in central Asia, western Asia, south Asia and Russia," He said.


"Border trade has long dominated Xinjiang's foreign trade," he said.


He said Xinjiang still had huge potential to develop markets in neighboring countries, especially Kazakhstan, Russia, Tajikistan, Uzbekistan and Azerbaijan, as those countries gradually shook off the effects of the global economic downturn.


Garments, shoes, hats, bags, textiles and subsidiary agricultural products would remain its major export products, he said.


China's economic and social blueprints usually chart development goals for five-year periods. This year is the first of the current five-year development drive.

 


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