Pilot free trade zone showcases robust growth, opening-up of Xinjiang

A news conference in Urumqi on Thursday highlighted how the China (Xinjiang) Pilot Free Trade Zone has advanced development in the Xinjiang Uygur autonomous region since its establishment in November 2023.

It was reported that the zone had recorded a cumulative import and export value of 308.1 billion yuan ($43.4 billion), accounting for 37.2 percent of Xinjiang's total foreign trade over the past two years. The situation is trending upward, as imports and exports exceeded 155 billion yuan from January to September, representing nearly 40 percent of the region's total foreign trade.

Much of this success is attributable to the more than 18,000 enterprises that have been established within the zone.

Li Xuan, secretary of the leading Party members group of Xinjiang's department of commerce, said as of October, 81.5 percent of the zone's pilot reforms had been fully implemented or achieved phased results. A total of 72 institutional innovation achievements at the regional level have been formed and are set to be replicated across Xinjiang.

These innovations are designed to facilitate trade, investment, and personnel mobility; promote industrial growth; advance governance and financial opening-up; and optimize regulatory oversight.

He pointed out that the Regulations on the China (Xinjiang) Pilot Free Trade Zone, enacted in July, provide crucial legal support for pioneering reforms. Over the past two years, 69 supporting policies have been introduced, and 45 economic and social management authorities have been delegated from the regional level.

"The pilot zone has played an increasingly prominent role in driving foreign trade, investment, opening-up, and industrial clustering," Li added.

Li Kaiyi, deputy director of Urumqi Customs District, highlighted efforts taken to deepen reforms in smart logistics and customs clearance, which have improved efficiency. From January to September, the freight volume of land ports in the Horgos area of the pilot zone reached 3.56 million metric tons, marking a 1.8-fold increase compared to the same period in 2023.

He said in the zone's Urumqi area, overall customs clearance efficiency for export goods at the airport has improved by over 90 percent. Regulated import and export freight volume soared from 3,527 tons in the first nine months of 2023 to 35,000 tons in the same period this year, a 9.6-fold increase. Additionally, innovative rail logistics reforms have cut transit times for imported and exported goods by 70 percent and 80 percent, respectively.