Investors welcomed to reclaim wasteland, grow trees in Xinjiang
( 2003-08-18 10:53) (Agencies)
Domestic and overseas investors who are willing to invest in growing trees or
grass by reclaiming wasteland in northwest China's Xinjiang Uygur Autonomous
Region will enjoy favorable policies.
The remote Chinese region has worked out preferential policies including the
exemption of land using fees to attract more investors to start up ecological
ventures in Xinjiang, said sources from the regional bureau of land and
resources.
According to the sources, the land use rights will remain unchanged for 50
years, and investors can be allowed to use 20 percent to 30 percent of the
reclaimed land for lucrative businesses.
The land use rights can be transferred, rented, mortgaged or inherited and
the term for the reclaimed land use rights can be extended upon expiry.
With a territory of 1.66 million square km, Xinjiang is the largest
provincial-level region in China. The mineral-rich region is divided by three
major mountain ranges and two basins, where 25 percent of the land is
desert.
It borders Mongolia, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Afghanistan,
Pakistan and India.
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