The Chamber of Commerce of Xinjiang Development was established in Toutunhe district of Urumqi, Xinjiang Uygur autonomous region, on May 12. The organization consists of 84 enterprises.

The chamber of commerce was launched by the owners of leading businesses in Xinjiang. Among the enterprises belonging to the 84 members, 70 private enterprises have net assets worth more than 100 million yuan ($16.12 million); the directors of 14 state-owned enterprises and organizations are honorary members. The members include Zhou Weihua, president of Xinjiang Machinery Research Co and Han Jiangang, chairman of the Xinjiang Tianxin Co.

During the opening ceremony, Xue Jihai, the mayor of Toutunhe district, signed cooperation agreements with Sun Guangxin, the chairman of Xinjiang Guanghui Industry Investment Group Co. The agreement marked the official settlement of the chamber of commerce in Toutunhe district.

At a speech at the ceremony, Sun Guangxin said that the chamber of commerce will try to encourage more companies bring proper projects to the district and contribute to local economic development.

Sun pointed out that the Belt and Road Initiative proposed by President Xin Jinping provides great opportunities for Xinjiang to develop. He said that the chamber of commerce would take hold of the opportunity and integrate its advantages in resources, capital, technology and talent to help all members and their enterprises achieve all round development. "The organization will also fulfill its social responsibility, support small and micro companies and work for public welfare," said Sun.