Xinjiang plans over 134 bln USD fixed-asset investment in 2022

URUMQI, June 3 (Xinhua) -- Northwest China's Xinjiang Autonomous Region plans a total fixed-asset investment of over 900 billion yuan (about 134.1 billion U.S. dollars) in 2022.

The regional development and reform commission said the investment will focus on major projects in infrastructures and strategic emerging sectors, including railways, airports, power transmission lines and new energy bases.

The regional authorities have rolled out a guideline to encourage investment in large wind and solar power bases in Xinjiang's vast expanse of deserts.

The region has encouraged its traditional energy-guzzling petroleum and coal chemicals industries to use more clean energy and even asked them to build new energy projects to power new production facilities.

In 2021, Xinjiang's fixed-asset investment exceeded 820 billion yuan, up 15 percent year on year, the second-fastest growth rate among provincial-level regions across the country.