Exim Bank of China to boost Xinjiang's economic growth with new branch

The Export-Import Bank of China opened its 19th branch in China at Urumqi, capital city of northwestern Xinjiang Uygur Autonomous Region, according to Xinhua News.

The new branch "is part of the nation's efforts to promote the development of the country's western regions, and will also play a positive role in promoting the establishment of the Central Asia economic circle with Xinjiang as
the center," said Li Ruogu, president of the bank, at the opening ceremony.

The Export-Import Bank of China has played an active role in boosting agricultural production and the construction of infrastructure facilities in Xinjiang and Central Asia in recent years, Li said.

The new branch will help expand imports of key technologies, boost exports of Xinjiang's products, and assist the region's companies in investing abroad and exploring overseas markets, Li said.