The Urumqi State High-tech Industrial Zone looks set to receive a "World Trade Center – Silk Road Global Port" after a construction agreement was penned with Xinjiang Silk Road Global Cooperation on Aug 12.

The singing ceremony for a World Trade Center is held between Urumqi State High-tech Industrial Zone and Xinjiang Silk Road Global Cooperation on Aug 12. [Photo provided to chinadaily.com.cn]

The trade center will occupy a ground space of 600,000 square meters and cost 11 billion yuan ($1.72 billion) to build. Construction work will commence this year and upon its completion in 2019, the center is expected to make an annual turnover of 12.8 billion yuan and contribute 622 million yuan in tax each year. The zone will also provide jobs for as many as 25,000 people.

The center will be known as China’s “Dubai Mall”, where people will be able to enjoy shopping, entertainment, food and culture. The complex will contain discount stores, cinemas, restaurants, hotels and apartments.

The center will also cooperate with international firms such as the US real estate development group F&T Group to introduce luxury brands to Urumqi.

Upon its completion, the new trade center is expected to boost the development of the industrial zone and Urumqi itself. The zone will provide a better environment and efficient services to ensure the timely completion of construction work.

Artist’s impression of the World Trade Center to be built as part of soon-to-be-constructed Silk Road Global Port in the Urumqi State High-tech Industrial Zone. [Photo provided to chinadaily.com.cn]

By Yang Fan and edited by Jacob Hooson