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Xinjiang Uses More Foreign Funds
Northwest China's Xinjiang Uygur Autonomous Region received a total of 10.67 million US dollars of foreign investment in the first half of this year, an increase of 70 percent from the same period last year.
The investments mainly went to agricultural projects, water and soil development, real estate development and construction of urban infrastructure facilities, said sources from the regional department in charge of foreign investment.
Xinjiang boasts vast land area and rich natural resources. The region has 3.3 million hectares of arable land, more than 4.6 million hectares of waste land that can be utilized, 800,000 hectares of man-planted pastures and over 46.6 million hectares of natural pastures.
Xinjiang is also rich in water resources with its total surface and underground water volume standing at 113.6 billion cu m, and rich mineral recourses such as coal, petroleum, natural gas and non-ferrous metals.
To encourage the inflow of foreign funds into the region, Xinjiang has adopted a series of preferential measures regarding the development of land and mineral resources, imports and exports and taxation.
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