China’s Xinjiang foreign trade surpasses 200b yuan in H1 ’24

Xinjiang Uygur Autonomous Region in northwest China witnessed a surge in foreign trade volume during the first half of 2024. Foreign trade volume was 48.4 per cent higher than that of last year, achieved in a shorter period of time.

The region’s total imports and exports reached a record-breaking 220.63 billion yuan ($30.95 billion) in the first six months. This surpasses all previous figures for the same period.

Central Asian nations emerged as Xinjiang’s largest trading partners, with their combined import and export value increasing by 23.9 per cent year-on-year.

Trade with Kazakhstan and Kyrgyzstan specifically jumped by 45.8 per cent and 8.7 per cent, respectively, compared to the first half of 2023.

Xinjiang continues its global market integration and exploration of new opportunities. The region conducted trade with a total of 205 countries and regions worldwide during this period.

The China (Xinjiang) Pilot Free Trade Zone (FTZ) and the region’s integrated bonded areas played a crucial role in driving this foreign trade growth.

The first pilot FTZ in China’s northwest border region saw its import and export value reaching 72.82 billion yuan in the first half of 2024.

Additionally, the four integrated bonded zones – Kashgar, Horgos, Alataw, and Urumqi – contributed a combined import and export value of 95.39 billion yuan.

These zones accounted for a significant portion of Xinjiang’s total foreign trade, representing 33 per cent and 43.2 per cent, respectively.

Attribution: Xinhua