Xinjiang achieves historic breakthroughs in economic development: official

Northwest China's Xinjiang Uygur Autonomous Region has achieved historic breakthroughs in its economic development, said an official from the region on Friday.

Chen Weijun, executive vice chairman of the regional government, briefed a press conference in Beijing, releasing a white paper on the governance of Xinjiang.

Multiple economic indicators in Xinjiang are among the fastest-rising nationwide, said Chen.

"In terms of total volume, multiple economic indicators have achieved historic breakthroughs. For example, Xinjiang's gross domestic product (GDP) surpassed the two trillion yuan (about 281.4 billion U.S. dollars) mark for the first time last year. The total import and export volume of Xinjiang also hit a record high of 434 billion yuan in 2024. From 2022 to 2024, Xinjiang's total import and export volume exceeded the 100 billion yuan mark for three consecutive years," said Chen.

"Last year, Xinjiang's GDP grew by 6.1 percent year on year. Its fixed-asset investment rose by 6.9 percent year on year, value-added industrial output of enterprises above the designated size grew by eight percent, and general public budget revenue rose by 10.5 percent," said Chen.

Leveraging its geographical advantage, Xinjiang has been actively promoting the building of a golden channel across the Eurasian continent and a gateway for opening up to the west.

"We are making every effort to accelerate the construction of the Eurasian Golden Corridor. To date, we have established 119 bilateral international road transport routes and 10 multilateral international road freight routes. In 2024, a total of 16,400 freight trains traveled through Xinjiang on the China-Europe Railway Express, maintaining an annual volume of over 10,000 trains for five consecutive years. The increasingly robust transportation network, which includes road, rail, and air routes that span mountains and rivers, is creating stronger connections that link Xinjiang to global markets," Chen added.

This year marks the 70th anniversary of the establishment of the Xinjiang Uygur Autonomous Region. Located in northwest China, the region is home to more than 26 million people from dozens of ethnic groups.

Oil prices rose on Wednesday.

The West Texas Intermediate for February delivery increased by 87 cents, or 1.42 percent, to settle at 62.02 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery gained 1.05 dollars, or 1.6 percent, to settle at 66.52 dollars a barrel on the London ICE Futures Exchange.