BEIJING, July 17 -- The Ningxia Hui Autonomous Region in northwest China is grasping the opportunities brought by the "Belt and Road" initiative to develop its finance cooperation demonstration zone, aviation transport distribution center, and e-business platform to further its international exchanges.
For a long time, Ningxia has seen a bottleneck in its foreign economic relations due to its inland geological location.
With the opportunities, Ningxia is to strengthen its cooperation with the Arab States by opening financial market, development of financial institution, innovation of financial products and cross-border Renminbi settlement.
Besides attracting capital from the Arab States, Ningxia also plans to construct three logistics hubs in the cities of Yinchuan, Shizuishan and Zhongwei.
Ningxia will make use of the Arab States' favorable policies of freedom of the 3rd, 4th and 5th traffic rights to attract domestic and international airlines to open direct flights from the Arab States to Yinchuan or make stopover in Yinchuan.
New direct international flights from Yinchuan to Dubai, Doha, Cairo, Kuala Lumpur with a stopover in Urumqi of northwest China’s Xingjiang Uygur Autonomous Region, are also planned to open.
The e-commerce website "Ubuymore" has already in place and operational in Chinese, English and Arabic as a platform to facilitate the China-Arabic States business.
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