Private economy has rapidly developed in northwest China's Xinjiang Uygur Autonomous Region due to local government's favorable policies.

In 2003, around 8,700 private enterprises were opened in Xinjiang, with a total registered capital of 15.6 billion yuan (about 1.9 billion US dollars), a year-on-year growth of 31.1 percent, said an official with the Xinjiang Industry and Commerce Administration.

The regional government had adopted a series of favorable policies encouraging private economic development, said the official.

The endeavor in infrastructure projects like water conservancy, communications and railway and highway construction would attract more foreign investment, the official said.

The local government has simplified the approval procedures for private enterprises and canceled 34 charges, ensuring the healthy and rapid development of Xinjiang's private economy, said he.

Source:　www.chinawestnews.net