Breaking News

Xinjiang's Employment and Development

China’s State-Owned Enterprises Amplify Efforts to Boost Xinjiang’s Employment and Development

Beijing, March 13, 2024, The Europe Today: In a dedicated commitment to support the growth and development of Xinjiang, China’s centrally-administered state-owned enterprises (SOEs) have significantly intensified their efforts since 2022. A conference held on Monday by the Xinjiang government and China’s top state-asset regulator revealed remarkable achievements in assisting the development of northwest China’s Xinjiang Uygur Autonomous Region over the past two years.

A total of 227 projects, backed by 41 central SOEs, have been earmarked for investment, amounting to approximately 1.1 trillion yuan (about 155 billion U.S. dollars). These substantial investments span a diverse range of sectors, including petroleum, natural gas, coal, new energy, transportation, environmental protection, communications, healthcare, and infrastructure construction.

The collective endeavors of the central enterprises have made a significant impact, creating job opportunities for approximately 251,000 people in Xinjiang, according to Chen Weijun, vice chairman of the regional government of Xinjiang.

Looking ahead, central SOEs are aligning their strengths with Xinjiang’s reality, unveiling comprehensive plans to support industries in the region between 2024 and 2026. Over this three-year span, they aim to invest in 133 projects, totaling nearly 695 billion yuan, with the intent to hire 33,000 new employees.

Zhang Yuzhuo, Chairman of the State-owned Assets Supervision and Administration Commission of the State Council, emphasized the commitment of central SOEs to further optimize industrial cooperation. The enterprises intend to boost investment in emerging technologies, sectors, and markets, cultivate new quality productive forces, and continually expand employment capacity through industrial development.

The conference signifies a collective and sustained effort by China’s centrally-administered state-owned enterprises to contribute to Xinjiang’s economic prosperity, focusing not only on immediate investments but also on long-term sustainable development and employment opportunities for the local population.