Latest News:  
Beijing   Overcast/Moderate rain    9 / 12 ℃  City Forecast

English>>China Business

Construction of new economic zone starts in W China

(Xinhua)

08:06, October 22, 2012

YINCHUAN, Oct. 20 (Xinhua) -- The construction of a new economic pilot zone, the first of its kind in China's inland areas, has started in the country's northwestern Ningxia Hui Autonomous Region.

At the inaugural meeting held on Friday, the construction of a comprehensive bonded area in the regional capital of Yinchuan was also announced.

The pilot zone and the four-square-km bonded area in the zone aim to deepen the opening up of China's western inland areas to countries located directly west of China, especially in order to boost trade, investment and friendly exchanges between China and the Arab world, said Wang Zhengwei, chairman of the regional government.

According to the establishment program approved by the State Council in September, projects in the zone will enjoy 66 preferential policies in investment, tax, finance and land use after its establishment.

The League of Arab States has become China's seventh-largest trade partner. Trade between China and the member countries surged 34.7 percent to 195.9 billion U.S. dollars last year.

Ningxia is the only provincial-level autonomous region for the Hui people, the largest Muslim ethnic group in China. About 30 percent of the region's population is Hui.

As many people in the area share religious beliefs and customs with Muslims living in Arab countries, the region is a perfect platform for boosting cooperation with those countries, according to Wang.

News we recommend:
Reflections on the global economy 'Do the right things' for the economy Rising food prices haunt our future
Telecom sector not in trouble Why foreign investors should stay? Chinese property companies speed up
Revitalizing China's gloomy exports  New hurdle for Japan's carmakers Secrets of a successful PE firm

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Weekly review of military photos

  2. Chinese conducts exercise in East China Sea

  3. Music dream in slums

  4. Same-sex wedding performed in Fujian Province

  5. Asia's largest Apple store opens in Beijing

  6. Zhejiang Real Estate Expo kicks off

  7. 14th Shanghai International Arts Festival

  8. Sexy photos of top lingerie model

Most Popular

Opinions

  1. Commentary: Stimulus should be small
  2. Why foreign investors should stay?
  3. Blessed are those who are happy
  4. Experts on touch-and-go landing on the Liaoning
  5. There is no justification for street violence
  6. Tokyo shrine visit angers neighbors
  7. BRICS can build optimism
  8. Rich list shines a light on China’s shifting economy
  9. Indigenous industry key to change
  10. Miners must break ground overseas

What’s happening in China

Foreign schools woo Chinese students

  1. Director claims film producers trying to profit from island row
  2. Couple's road-trip romance makes a moving book
  3. Two surrogacy services raided
  4. Beijing prepares to get smart
  5. Chinese telecom fraud gang busted, 86 arrests