Nongovernmental capital enters Xinjiang
(Xinhua)
Updated: 2005-06-26 08:50

One of Beijing's fastest-growing non-governmental enterprise Zhong Kun Group announced here Saturday it will promote a brand new "south Xinjiang international tourism festival.

The festival will last for several months until winter time.Nearly 20 activities will be held during the period, such as hotballoon competition, mountain climbing and jade culturalconference, to display the unique tourism resource in the Xinjiang Uygur Autonomous Region.

As China's biggest region, Xinjiang has special geographic,historical, ethical and cultural tradition. However, it lacked sufficient capital. In recent years, Xinjiang opened its door to nongovernmental capital in order to attract more investment in tourism-oriented fields.

Zhong Kun declared its plan to invest 1.3 billion yuan (US$0.16) in the next three to five years in southern part of Xinjiang and create jobs opportunities for 10,000 people.

Zhong Kun has already invested in Beijing, Anhui, Inner Mongolia, north America and middle Asia.