Representatives from major companies sign investment agreements at a promotional event held by Tacheng prefecture of Xinjiang Uygur autonomous region in Beijing on Jan. 14, 2025. [Photo provided to China.org.cn]

In a major economic boost for China's northwestern frontier, Tacheng prefecture of Xinjiang Uygur autonomous region secured investment commitments on 30 projects worth 73.77 billion yuan (US$10.06 billion) at a promotional event held in Beijing on Tuesday.

The projects involve more than 300 major companies, including state-owned enterprises and industry leaders, from various sectors like renewable energy, tourism, mining, and textiles.

Zhi Xianwei, the prefecture's Party secretary, said that Tacheng, as an important hub in the core area of the Silk Road Economic Belt, is now developing a modern industrial system focused on key industries like mining, new energy, agriculture, textiles, biomanufacturing, foreign trade, and cultural tourism to drive growth and innovation.

One of the flagship deals announced at the event was a 13 billion-yuan investment by a Beijing-based company Shouchu Nongxin to construct a solar panel recycling facility in Wusu city. The state-of-the-art facility will feature 100 production lines capable of processing 1 million metric tons of photovoltaic modules annually.

Zhou Hua, vice chairman and CEO of the company, expressed confidence in the region's prospects. "After conducting field research in Tacheng prefecture, we were deeply impressed by its huge development potential and vast opportunities for collaboration," he said. "We look forward to working with Tacheng to create a bright future together."

The local government also unveiled comprehensive development plans for developing three key sectors over the next decade: modern logistics (2024-2030), tourism (2025-2035), and synthetic biology manufacturing (2025-2030). 

An official from Tacheng prefecture said that these plans aim to provide investors with clear guidance on the region's industrial development trajectory.

The event, which drew more than 600 attendees including business leaders and industry experts, showcased Tacheng's ambitious plans for leveraging its strategic location and rich resources to drive economic growth.