Xinjiang's foreign trade grows 40 percent annually since 2021

The value of imports and exports of Northwest China's Xinjiang Uygur autonomous region increased from 156.91 billion yuan ($22.04 billion) in 2021 to 434.16 billion yuan in 2024, marking an average annual growth rate of 40 percent, according to the region's department of commerce.

From January to August, Xinjiang's imports and exports reached 356.31 billion yuan, growing by 25.4 percent, which is 21.9 percentage points higher than the national growth rate.

Since its launch in November 2023, the China (Xinjiang) Pilot Free Trade Zone has facilitated the establishment of more than 17,000 enterprises. From January to August, the zone generated an import and export volume of 146.02 billion yuan, accounting for 40.9 percent of Xinjiang's total trade volume.

Li Xuan, secretary of the leading Party members group of Xinjiang's department of commerce, noted during a news conference in Urumqi on Sunday that Xinjiang's commercial economy is showing a steady upward trend in recent years.

Notable achievements have been made in boosting domestic demand, rapidly expanding foreign trade, efficiently advancing the construction of the pilot free trade zone, enhancing opening-up channels and platforms, attracting investment, and fostering foreign economic and trade cooperation, he said.

You Jialin, deputy head of Xinjiang's commerce department, said that since 2021, the region has introduced 20 rounds of policy measures aimed at ensuring steady and high-quality growth in foreign trade, accelerating the development of new forms and models of foreign trade, expanding cross-border e-commerce, and enhancing financial support for the market.

According to You, Xinjiang now has more than 40 international warehouses for cross-border e-commerce in 10 countries, including Kazakhstan and Kyrgyzstan. In 2024, exports through market procurement trade reached 2.03 billion yuan, representing a nearly fourfold increase.

You added that the region is seeking new partners in the markets of the Association of Southeast Asian Nations, the Middle East, and Africa.