BEIJING, Dec. 18 (Xinhua) – Located in northwest China, Xinjiang Uygur Autonomous Region is China's largest provincial administrative region.
In terms of economic development, Xinjiang is a promising player in the tertiary industry. In 2018, the region realized a total of 1.22 trillion yuan of total GDP, including 558.4 billion yuan of value in tertiary industry, accounting for 45.8 percent of the total GDP.
Xinjiang is rich in oil and gas resources, making it the largest oil and gas producer in China.
Taking Karamy as an example, as the first large oil and gas field of 10 million tonnes in western China, Karamy produced 376 million tonnes of crude oil as of December 13 in 2018.
As the core inland development zone of the Belt and Road Initiative (BRI), the region realized a total of 291.5 billion yuan of trade volume with 36 Belt and Road (B&R) countries in 2018, accounting for 98.2 percent of Xinjiang's total foreign trade in the year.
The region has been striving to enhance its business environment by implementing of some supportive measures, such as, promoting online registration, simplifying registration procedure for enterprises, facilitating enterprises to withdraw from the market, and lowering the threshold for product access to the market. (Edited by Jiang Feifan)
A single purchase
