News Content
Growing trade boosts Xinjiang's Khorgas trade on Kazakhstan border
XINJIANG's Khorgas city, on the Kazakh border, is experiencing faster development as its foreign trade grows year by year.
The westernmost hinterland city has developed from simply a border checkpoint for trade between China and Central Asian countries to a transshipment and distribution hub and a processing base for exports, reports Xinhua.
From January to October, the Khorgas Economic Development Zone recorded an import and export volume of 17.05 million tonnes, which increased 30 per cent year on year. Value of trade cargo also grew 20.59 per cent to US$10.38 billion.
Khorgas checkpoint is also the first city that is approved by the Chinese government to run Renminbi off-shore financial services. Since becoming the pilot city to run such service, more and more investors and trained professionals are coming into Khorgas' Sino-Kazakh International Cross-boundary Cooperation Centre, bringing their capital as well as technologies.
The Khorgas Sino-Kazakh International Cross-boundary Cooperation Centre has invested CNY1.2 billion (US$197 million) on infrastructure, and has attracted 22 projects worth a total investment of CNY23.45 billion. Six of them will be completed and commence operation by year end.
Yang Jun, an official from the administration of the Khorgas Economic Development Zone said the city will focus on the development of the financial industry in the future to make it the lead of the region's economic growth.
The westernmost hinterland city has developed from simply a border checkpoint for trade between China and Central Asian countries to a transshipment and distribution hub and a processing base for exports, reports Xinhua.
From January to October, the Khorgas Economic Development Zone recorded an import and export volume of 17.05 million tonnes, which increased 30 per cent year on year. Value of trade cargo also grew 20.59 per cent to US$10.38 billion.
Khorgas checkpoint is also the first city that is approved by the Chinese government to run Renminbi off-shore financial services. Since becoming the pilot city to run such service, more and more investors and trained professionals are coming into Khorgas' Sino-Kazakh International Cross-boundary Cooperation Centre, bringing their capital as well as technologies.
The Khorgas Sino-Kazakh International Cross-boundary Cooperation Centre has invested CNY1.2 billion (US$197 million) on infrastructure, and has attracted 22 projects worth a total investment of CNY23.45 billion. Six of them will be completed and commence operation by year end.
Yang Jun, an official from the administration of the Khorgas Economic Development Zone said the city will focus on the development of the financial industry in the future to make it the lead of the region's economic growth.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
