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NW China ethnic region records export surge

(Xinhua)
Updated: 2008-12-17 11:15

Xinjiang Uygur Autonomous Region in northwest China has so far this year recorded a surge of 72.8 percent in its export despite the spreading global financial crisis, the regional foreign trade and economic cooperation bureau said on Thursday.

The volume of Xinjiang's export during the period reached 17.69 billion U.S. dollars, while its import increased by 36.7 percent to 2.82 billion dollars, the department said.

With the remarkable export and import volume, the region replaced Sichuan Province to become the bellwether of foreign trade in China's vast western region.

Huang Pingzhao, a leading analyst of the bureau, attributed the export surge to the Mid Asian market, which accounts for more than 80 percent Xinjiang's exports and is not so badly impacted in the global financial crisis as the European, American and Japanese markets.

Besides, most of Xinjiang's exports were consumer goods. "The market demand in Mid Asia for consumer goods was rigid," Huang added.

The analyst said more Chinese domestic companies were expected to expand their exports to Mid Asia via Xinjiang next year, bringing an even more promising future for the region.