China’s central SOEs invest over 767 billion yuan in Xinjiang during 13th Five-Year Plan period

(People's Daily Online) 17:43, September 16, 2021

China’s centrally-administered state-owned enterprises (SOEs) invested more than 767 billion yuan (about $119.3 billion) in 320,000 projects in northwest China’s Xinjiang Uygur Autonomous Region during the 13th Five-Year Plan period (2016-2020).

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) instructed the central SOEs to beef up inputs to assist Xinjiang during the period, making significant contributions to the region’s economic development, social progress and improvements in people’s livelihoods.

Employees of a branch of the State Grid Corporation of China in Bohu County, northwest China's Xinjiang Uygur Autonomous Region overhaul a rural power transmission line in the county, Sept. 5, 2020. (People's Daily Online/Chue Horot)

China’s central SOEs have remained committed to the fundamental goal of enhancing Xinjiang’s capabilities for independent and sustainable development by assisting the region’s industries. Leveraging their respective strengths, the central SOEs helped Xinjiang develop featured industries with a competitive edge, thus injecting a strong impetus into the region’s high-quality development.

China Petroleum & Chemical Corporation, for example, promoted the construction of large oil and gas production and processing bases in Xinjiang. China Energy Investment Corporation implemented upgrading and construction projects in industries such as coal mining, electricity and new energy, and China Aerospace Science and Technology Corporation supported the development of southern Xinjiang’s textile industry.

Furthermore, the central SOEs participated extensively in the region’s infrastructure construction, providing strong support for its economic and social development.

By vigorously implementing coal-to-electricity projects, the central SOEs in the power sector have provided people in the region’s Kashgar, Hotan, and Kizilsu Kyrgyz Autonomous Prefecture with clean heating sources. China’s central SOEs operating in the energy sector have implemented coal-to-gas projects in southern Xinjiang, guaranteeing safe and stable natural gas supplies for local people. Meanwhile, the central SOEs in the engineering and construction sector have built a large number of railroads, highways, airports, bridges and tunnels in the region.

In recent years, the SASAC has guided the central SOEs to increase investment and construction activities in fields such as energy, water conservancy, information and transportation.

Between 2016 and 2020, the central SOEs also offered 3.12 billion yuan in funding for poverty alleviation in Xinjiang, and helped the region sell agricultural and sideline products worth 3.93 billion yuan.

According to the SASAC, the central SOEs will continue to provide pairing assistance for Xinjiang in the future to make even greater contributions to the region’s steady economic and social development.

(Web editor: Hongyu, Bianji)


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