Investment Contracts Worth Over $16B Signed for Xinjiang Regional Capital

01 Jul, 2024

Investment Contracts Worth Over $16B Signed for Xinjiang Regional Capital

A sideline event of the 8th China-Eurasia Expo in Urumqi, the regional capital of the Xinjiang Uygur autonomous region, saw the signing of 40 projects totaling over 118.48 billion yuan ($16.62 billion) in investment on Friday.

The event, which emphasized the development of the Urumqi sub-zone of the China (Xinjiang) Pilot Free Trade Zone (FTZ), was organized by the Urumqi government and attracted over 300 representatives from 200 enterprises and 10 chambers of commerce. Mayor Yakup Paydulla highlighted Urumqi's rise as a key investment and business hub with the establishment of the Xinjiang Pilot FTZ.

The projects span various industries, including new energy, new materials, energy and chemicals, electronics and information technology, agricultural processing, logistics, advanced equipment, and bio-medicine. Che Mingze, assistant to the chairman of Xinjiang Shijiyun Energy Technology Co Ltd, emphasized Urumqi's strategic location, stating that the company's investment projects would support local industrial transformation and expansion into Central Asia and other markets, enhancing the reach of quality Chinese products.

Xinjiang Shijiyun Energy Technology Co Ltd signed projects worth 24.5 billion yuan, including a 4-million-kilowatt photovoltaic project in Urumqi.

Established in November 2023, the Xinjiang Pilot FTZ is China's first pilot FTZ in the northwest border area and has initiated several reforms, signaling a strong start to its growth.

Running until Sunday, the 8th China-Eurasia Expo, themed "New Opportunities of Silk Road, New Vitality for Eurasian Cooperation," has attracted over 1,900 participants from 50 countries, regions, and international organizations, showcasing more than 6,000 products.