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China Kazakhstan Trade and Tourism

Western China establishes new special economic zone

Sep 04, 2010

China has designated its Yili prefecture a Special Economic Zone to increase trade with KazakhstanWednesday, September 01, 2010 - China has designated the Yili Kazakh Autonomous Prefecture bordering Kazakhstan as a Special Economic Zone (SEZ) to facilitate trade between the region and its Kazakh neighbor, business news magazine China Briefing reported on Wednesday.

Naming the sole Kazakh-majority prefecture in China as an SEZ opens the local economy to more international trade, and encourages Yili businesses to increase exports. Also, businesses are burdened with fewer state restrictions and are rewarded with tax incentives for investing in the area.

The border town of Khorgas will be developed as a local trade hub, with a focus on forging links in container transport, processing facilities and the promotion of tourism in Xinjiang and Kazakhstan. The Chinese town of Khorgas is linked to the Kazakh town of the same name by rail, and boasts strong infrastructure in the banking, post and telecommunications fields.

“Great opportunities lie in Western China as China’s border areas open up to international and bilateral trade, business advisor Chris Devonshire-Ellis, founder of business consulting firm Dezan Shira & Associates, told China Briefing on Wednesday.

“The development of a new SEZ in Yili confirms our opinion that the new markets to look at in China for growth are in the west, and in the case of Yili, businesses interested in developing trade links with the huge markets in Central Asia will do well here.

Western China establishes new special economic zone

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