More Government Investment in Xinjiang

Wang Yong, director of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), disclosed in a recent meeting that during the 12th Five-year Plan period (2011-2015) the investment to be made in Xinjiang Uygur Autonomous Region by state-owned enterprises under the central government will double. According to the SASAC Xinjiang office, by the end of 2010, 44 of these enterprises operated and held assets totalling RMB 573.9 billion in the region, working in fields including petrochemicals, coal, electricity, and metallurgy and contributing over 70 percent to the added value of local industries. The SASAC, the governing body of state-owned enterprises directly under the central government, will insure that the corporate contingent that comes under its jurisdiction propels Xinjiang's core industries to new heights while adhering to the rules of sustainable development.