Northwest China's Xinjiang Uygur Autonomous Region has witnessed a remarkable surge in foreign trade, achieving a 30.9 percent increase in the first eight months of this year, according to local customs authorities.
The region's total import and export volume reached 285.32 billion yuan (approximately $40.55 billion) from January to August, as reported by Urumqi Customs.
Li Qinghua, deputy head of Urumqi Customs, attributed this significant growth to the establishment of comprehensive bonded zones that have enhanced logistics efficiency. Additionally, the successful expansion into international markets has played a crucial role.
Trade with countries participating in the Belt and Road Initiative (BRI) surged by 28 percent year-on-year, accounting for a substantial 92.5 percent of Xinjiang's total foreign trade value during this period. Kazakhstan and Kyrgyzstan emerged as the region's major trading partners.
Private enterprises in Xinjiang also delivered robust performance, with their foreign trade value soaring by 29.6 percent year-on-year, representing 92.5 percent of the region's total trade.
The region has focused on exporting high value-added products, including electric passenger vehicles and lithium-ion batteries, further strengthening its position in global markets.
Strategically located at the heart of the Eurasian continent, Xinjiang serves as a pivotal transportation hub within the Silk Road Economic Belt, a core component of the Belt and Road Initiative proposed by China in 2013.
Reference(s):
Ancient Silk Road hub Xinjiang sees 31% foreign trade growth
cgtn.com
