Xinjiang firms crucial in border trade
(Xinhua)
Updated: 2004-05-29 09:58

Privately-owned enterprises in Northwest China's Xinjiang Uygur Autonomous Region have become a fresh vital force in expanding local border trade.

According to regional customs statistics, the import and export value of privately-owned firms in Xinjiang increased by 3.9 fold to reach US$650 million in the first four months this year, accounting for 34 percent of the region's total foreign trade volume.

The number of privately-owned firms engaging in import and export numbered 204 so far this year, up by 96 percent over the figure a year ago. Many of them handle small trade.

The value of small trade totaled US$570 million in the first four months of 2004, making up 88 percent of the total foreign trade value handled by private firms.

Kazakhstan was the largest trade partner of private enterprises in Xinjiang. In the first four months, the import and export of local private firms to Kazakhstan rose to US$510 million, 4.3 fold last year's figure.

The trade between the two sides, nevertheless, was only limited to copper and its products, rolled steel and garment.

Analyzing the growth of private trade companies, a regional customs official said there are good prospects for local private foreign trade firms. But they must deal with such problems as small size, lack of self-discipline and poor ability to guard against and cope with risks.

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