New Blueprint for Promoting Xinjiang's Economy

"Xinjiang's future development will be market-oriented, open, growth-oriented, energy-saving, labor-intensive and people-oriented. Only in this way will we make locals wealthy, eliminate poverty and realize a shared prosperity," Wei Jianguo, former minister of commerce said to an EO reporter.

Wei Jianguo is now the general secretary of the China Center for International Economic Exchanges.

Wei Jianguo said, while enlarging the local market, expanding the development scope and ensuring vast investment, the central government should set both short-term and long-term goals for developing Xinjiang and ensure that Xinjiang locals will benefit from development, thus increasing Xinjiang's competitiveness.

He said though the central government was currently focused on improving Xinjiang:s infrastructure, more investment should be put into projects concerning people's welfare including investment in culture, education and foreign trade.

Additionally, the EO has learned that the Xinjiang financial office is drafting a project to promote the local capital market during the 12th Five-Year Plan period.

By the end of August this year, Xinjiang's listed companies had collected around 60 billion yuan in funds from the domestic and international capital market. The China Securities Regulatory Commission has pledged its support of the development of Xinjiang's capital market.
In April this year, Zhang Chunxian, former CPC secretary of Hunan Province, was designated as the new CPC secretary of Xinjiang. Zhang was once praised by the Hong Kong media as the “most open-minded CPC secretary" for his open attitude toward journalists and internet users.

This designation is an indicator that the focus of the Xinjiang government will shift from promoting economic prosperity to striking a balance between raising people's living standards and tackling separatists.

Meanwhile, many centrally-owned enterprises, including Sinopec, are encouraged to invest in Xinjiang to stimulate the local economy.

Links and Sources
Economic Observer Online:
前商务部副部长：新疆问题要有大视野、大思路

新疆酝酿资本市场“十二五”规划

China News Service:
新疆“换帅”背后：中央治疆新阶段的开始

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