China's New Free Trade Zone: FTZ plan released for western region of Xinjiang
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China has announced the establishment of a new Free Trade Zone in its western Xinjiang Uygur Autonomous Region. Details of the plan were provided at a press conference on Wednesday by the Ministry of Commerce. Yang Chengxi reports.

Free Trade Zones have been a tried and tested policy by China to push forward reform and opening-up. Now the country has set up a new FTZ, this time in Xinjiang. The 180 square-kilometer zone consists of the Urumqi area, the Kashgar area and the Horgos area in the country's western region.

YANG CHENGXI Beijing "Like the more than 20 other FTZs in China, the one in Xinjiang aims to unleash growth potential by introducing a series of pro-business and investment policies."

GUO TINGTING Vice Commerce Minister of China "Xinjiang will actively undertake the transfer of advanced equipment manufacturing and labor-intensive industries from the Middle and Eastern regions of China, cultivate high-tech enterprises in new energy and new materials, participate in the national computing power network system, and actively integrate into the unified national market."

Future reforms include digitizing government services, further liberalizing trade and investment, upgrading the manufacturing sector and providing adequate financing support. The region is striving to build itself into a logistics center along the Europe-Asia trade route.

SUN HONGMEI Vice Chairman People's Government of Xinjiang Uygur Autonomous Region "We will rely on the advantages of Xinjiang's ports and channels, deepen our openness and cooperation westwards, and enhance interconnectivity between neighboring countries in Central Asia and major Chinese cities."

This 22nd Free Trade Zone is situated at an important crossroads region under China's Belt and Road Initiative. High expectations have been placed on it to enhance high-quality trade and investment ties with central Asian countries. YANG CHENGXI, CGTN, BJ.

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