CHINA TO INVEST BILLIONS IN XINJIANG TO BOOST TEXTILE INDUSTRY
March 1st, 2014
THE CHINESE government is to invest Chinese Yuan Renminbi CNY10 billion (USD1.6 billion) to boost the textile industry in the country’s largest cotton producing region – the Xinjiang Uyghur Autonomous Region, in western China. According to the Xinjiang local government, this investment will be used to attract clothing manufacturers from other provinces, build infrastructure, and to subsidise existing local textile companies by lowering taxes and subsidising logistics costs. According to the Chinese 12th five-year (2011-2015) development plan for the local ...
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