Xinjiang Pilot Free Trade Zone (FTZ)
The Xinjiang Pilot Free Trade Zone (FTZ), the first in China's northwestern border regions, officially started operations on Wednesday. An unveiling ceremony for the FTZ was held in Urumqi, the regional capital city.
To enable pilot FTZs to better play an exemplary role, it is essential for them to uphold overall Party leadership, pursue high-level opening up as the guidance and institutional innovation as the core, coordinate development and security, align domestic rules with international economic and trade rules by high standards, further promote institutional opening-up, strengthen overall planning and systematic integration of reform, and promote innovative development of the entire industrial chain.
The country's drive to build a new development pattern and promote high-quality development and Chinese-style modernization has provided Xinjiang with new opportunities, and Xinjiang should seize the opportunities and make new achievements. Based on its resource endowment, geographical advantages and industrial foundation, Xinjiang should advance innovation in science and technology, foster and develop industries with unique advantages, actively develop emerging industries, and accelerate the construction of a modern industrial system that reflects Xinjiang's characteristics and advantages so that Xinjiang will be able to advance on the track of high-quality development and work with the rest of the nation to comprehensively build a modern socialist country.
"dual circulation" of domestic and international markets
a "golden channel" between Asia and Europe