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CASC Helps Economic Development in Xinjiang
    UPDATED: 2011-08-29
BEIJING, Aug. 29 (China Space News) — On Aug. 20, the State-owned Assets Supervision and Administration Commission (SASAC), the government of the Xinjiang Uyghur Autonomous Region, the Xinjiang Production and Construction Corps (XPCC), and the leaders of 120 central companies gathered in Urumqi, capital city of Xinjiang, to jointly hold the promotion conference on central companies supporting Xinjiang. Wu Yanhua, chief accountant of China Aerospace Science and Technology Corporation (CASC) attended the conference.

Many projects were initiated at the conference, among which Sichuan Aerospace Tuoxin Basalt Industrial Co., LTD, a subsidiary of CASC, signed a 117 million yuan agreement with XPCC to develop basalt fiber products. About 44 central enterprises had invested a total of 573.9 billion yuan to develop Xinjiang's petroleum and petrochemical, coal, power and metallurgical industries by the end of 2010.

During the Twelfth Five-Year-Plan period the investment from central enterprises into the region will be more than twice that in the Eleventh Five-Year-Plan period, over 1,000 billion yuan, according to SASAC.