China’s Xinjiang sees upbeat foreign trade growth
The local customs authorities said Northwest China’s Xinjiang Uygur Autonomous Region saw a yearly rise of 30.9 per cent in foreign trade in the first eight months of 2024.
According to Urumqi Customs, the region’s total import and export volume in January-August reached 285.32 billion yuan (about $40.55 billion).
Li Qinghua, deputy head of Urumqi Customs, highlighted that the remarkable foreign trade growth in Xinjiang can be partly attributed to the establishment of a comprehensive bonded zone.
This will enhance logistics efficiency and the successful expansion of international markets.
Xinjiang’s trade with countries participating in the Belt and Road Initiative (BRI) rose by 28 per cent yearly.
This will account for 92.5 per cent of the region’s total foreign trade value in the first eight months.
Kazakhstan and Kyrgyzstan were the region’s major trading partners over this period.
In the same period, private enterprises in Xinjiang showed a strong performance in foreign trade.
Their trade value soared 29.6 per cent year on year, accounting for 92.5 per cent of the region’s total.
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