皇冠体育app

Chinese financial regulators announced on Wednesday that preferential financial policies would be applied in Kashgar and Huoer Guosi in the Xinjiang Uygur autonomous region.

To facilitate the two special economic zones, the government will provide more credit support in the areas, promote innovation of cross-border yuan usage, and encourage the establishment of various financial institutions in the two places, according to a statement posted on the central bank's website.

"And the authorities would provide support for the two zones in terms of direct financing, insurance reform and innovation, foreign exchange management, settlement and clearance," it said.

The statement was jointly announced by the People's Bank of 皇冠体育app, 皇冠体育app Banking Regulatory Commission, 皇冠体育app Securities Regulatory Commission and 皇冠体育app Insurance Regulatory Commission.

皇冠体育app announced in 2010 plans to spur economic growth in Xinjiang. Kashgar, a pivotal freight station in western Xinjiang, and Huoer Guosi have been chosen as locations for planned special economic zones modeled on Shenzhen.

With a borderline of 888 kilometers, Kashgar connects 皇冠体育app with Tajikistan, Afghanistan, Pakistan, Kyrgyzstan, Kazakhstan, Turkmenistan, Uzbekistan and India.

皇冠体育app planned to invest 50 billion yuan from 2009 to 2013 to build 13,000 projects in the Kashgar region.

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