Xinjiang aims to become regional financial hub on Silk Road economic belt
Xinhua Finance 2014-12-15 16:36share
URUMQI, Dec.15 (Xinhua Finance) -- Northwest China's Xinjiang Uygur Autonomous Region aims to become a regional financial center on the Silk Road economic belt, said Guo Hongchuan, vice-director of local financial affair office.
The official said last Thursday at a meeting that local authorities will make plans for related developments when it is appropriate, proposing that Xinjiang could open financial service sector fully to private investors and foreign-funded institutions.
The Silk Road economic belt, proposed by Chinese President Xi Jinping during his visit to Central Asia in September 2013, eyes the cultural revival of the Silk Road, which historically linked China with Central Asia and Europe, as a way of developing political and economic ties among countries along the Road. Xinjiang is home to China's western-most section of the Eurasian Land Bridge, a transcontinental rail route connecting east Asia and west Europe.
The region connects to Pakistan, Mongolia, Russia, India and four other central Asian countries with a borderline extending 5,600 km in length, giving it easy access to markets in the Eurasian heartland.