Xinjiang enters a golden age as investment capital pours in

Xinjiang Uygur Autonomous Region in northwest China is entering a golden age as investment capital pours in from around China and the world. As of August 14, 30 of China's top 500 enterprises had settled here. Although statistics are incomplete, it appears that the region (excluding the Production and Construction Corps) absorbed 21.031 billion yuan from external sources (including foreign countries), which is 37.92 percent more than was invested last year. Never before have so many businesses from the east of China migrated west.

In terms of resources, few provinces or regions can compete with Xinjiang. Here there are 117 kinds of minerals of known deposits, 26 of which rank in the top 5 in China. Petroleum in Xinjiang accounts for 30 percent of land resources in China; natural gas accounts for 34 percent and coal over 40 percent of estimated reserves. Xinjiang also has rich land with abundant forests and fruit resources. In the past few years, capitalizing on its ample resources and proximity to Central Asia, Xinjiang has attracted Chinese businesses to the west.

Over the past five years, nearly 10,000 kilometers of highway has been built in Xinjiang. Bitumen roads are now in 15 cities and highways connect 99.5 percent of villages and towns. Air transportation is also developing rapidly. There are currently 65 middle and large-sized cities both in and out of China connected to Urumchi. Xinjiang now has the longest skyway and has become one of the regions with most terminals. Local governments at different levels are endeavoring to make Xinjiang an attractive destination for trade.

By People's Daily Online