Xinjiang regional GDP up 5.1%, foreign trade surges 65% in H1
Published: Jul 26, 2023 08:25 PM
Tourists visit Sayram Lake in Bortala Mongolian Autonomous Prefecture, northwest China's Xinjiang Uygur Autonomous Region, July 25, 2023. (Xinhua/Ding Lei)

Tourists visit Sayram Lake in Bortala Mongolian Autonomous Prefecture, northwest China's Xinjiang Uygur Autonomous Region, July 25, 2023. Photo: Xinhua

Northwest China's Xinjiang Uygur Autonomous Region had a remarkable economic performance in the first half of 2023, with regional GDP growing 5.1 percent year-on-year and foreign trade in goods jumping 65.2 percent, Xinjiang Daily reported on Wednesday.

Industrial output and investment there maintained largely stable, regional consumption continued to rebound, and employment and consumer prices were stable.

According to the media report, gross regional industrial added value rose 5.2 percent year-on-year, which exceeded the country's average growth rate by 1.4 percentage points. 

Retail sales were up 6.4 percent year-on-year to reach 173.7 billion yuan ($24.5 billion), which was 1.3 percentage points faster than in the first quarter.

The result was not easily gained amid rising external and internal economic challenges, and the growth was supported by a raft of government policies to promote high-quality development, expand high-level opening-up, and optimize business environment and elevate the confidence of the private sector, analysts noted.

The 8th plenary session of the 10th Party Committee of Xinjiang approved an action plan for promoting high-quality development of Xinjiang region from 2023-25. 

The meeting listed employment, tech innovation, retail sales and broader opening-up as priorities to boost high-quality economic and social development.

The meeting also vowed to deepen cooperation with the neighboring five Central Asian countries, and it plans to establish an economic development belt surrounding the Tarim Basin to accelerate growth of southern Xinjiang.

Xinjiang region's total imports and exports volume is 63.1 percentage points faster the national average, official data showed. 

The result reflects a notable foreign trade performance between the region and the BRI economies, Zhang Hong, a research fellow at the Institute of Russian, Eastern European and Central Asian Studies of the Chinese Academy of Social Sciences, told the Global Times on Wednesday.

As the Asia-Europe "golden gateway" and a bridgehead for westward opening-up, Xinjiang has in recent years gained from a booming trade between the five Central Asian countries and China, Zhang said, adding the smooth infrastructure connections will boost Xinjiang region's future growth. 

According to data released by the General Administration of Customs, China's foreign trade with the five Central Asian countries grew 35.6 percent year-on-year in the first half this year

Global Times