Located in Bayingolin Mongol autonomous prefecture, the Korla Economic and Technological Development Zone was set upon July 21, 2000 after getting the approval from the Xinjiang Uygur autonomous region, and was upgraded to a regional high-tech development zone in February 2008. On April 10, 2011, it was further upgraded to State level, becoming the only State-level economic and technological development zone in South Xinjiang.
The zone will develop 80 square kilometers in the first phase and another 60 square kilometers in the second phase, which will ultimately make it a comprehensive industrial park with highly concentrated professionals, investment, resources and efficiency. Currently, the zone has set up an industrial system with textiles and chemical fibers, a fine chemical industry for petroleum and natural gas, tertiary industries and logistics, processing of agricultural by-products with local characteristics, high-tech emerging industry and petroleum technical service as its leading focuses.
The development zone achieved 28 billion yuan ($4.14 billion) industrial output in 2018, up 15 percent from a year ago. The gross domestic product reached 9 billion yuan, representing a year-on-year increase of 6 percent. The industrial added valued surged 6.8 percent to 3.54 billion yuan and the public fiscal income rose 5.7 percent to 670 million yuan.
It is projected to increase its GDP by 7 percent to 9.6 billion yuan in 2019. Meanwhile, its industrial added value has surged 10 percent to 3.8 billion yuan, fixed assets investment climbed 10 percent to 4.6 billion yuan and the public fiscal income from the zone is expected to rise 5 percent to 704 million yuan.