Korle Economic and Technology Development Zone was upgraded on April 18 to become the first national economic and technology development zone in southern Xinjiang, Bayingol Television reported.

Ma Wenyu, director of the Administration Committee of the Korle Economic and Technology Development Zone called it a major milestone that would push economic development into a new stage. He added that the State Council officially approved its national status after the central government's conference pertaining to Xinjiang's economy.

Ma said its national status will increase the economic zone's prominence, which will create a larger base and attract more businesses and projects. Going forward, companies in the economic zone will benefit from state policy in credit services and other financial procedures. In addition, more subsidies for science and technology projects and environmental protection and brand promotion will be available.

Since established in July 2000, Korle Economic and Technology Development Zone has become an important factor in propelling the economic development of Bayingol Mongolian Autonomous Prefecture. It consists of 421 enterprises, and its industries include biomedical, oil and natural gas, building materials and subsidiary agricultural products processing.

In February 2008, the development zone was categorized as an economic and technology development zone of Xinjiang Uyghur autonomous region. Its increasing rate of gross output, fixed assets investment and local financial revenues reached the top in the prefecture.

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