7 Feb 2017
Bayangol (Xinjiang) City Information
|Major Economic Indicators (2015)|
|Land Area (km2)||470,954|
|GDP (RMB billion)||103.9|
|GDP Per Capita (RMB)||73,649|
|Retail Sales of Consumer Goods (RMB billion)||9.8|
|Utilised FDI (USD million)||27.4|
|Exports (USD million)||135.2|
|Imports (USD million)||234.1|
Source: Xinjiang Statistical Yearbook 2016
Bayangol Mongol Autonomous Prefecture is located in the southeastern part of the Xinjiang Uygur Autonomous Region. The Tarim Basin, which is one of the largest basins and is replete with petroleum and natural gas resources, is half located in Bayangol.
Bayangol is designated as a regional hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics. A number of railways connect Bayangol with the surrounding major cities of Urumqi, Tulufan, Hami, Lanzhou, Xi'an and Chengdu. State Highway 314 (Urumqi to Khunjerab) passes through Bayangol, and Korla Airport operates scheduled flights to cities including Urumqi, Beijing, Chengdu, and Jinan.
Bayangol’s economy is driven by the industry sector which accounted for 50% of the GDP in 2015. Pillar industries include petroleum and petrochemicals, mining, agricultural and sideline products processing and new energy.