The South-South Global Assets and Technology Exchange (SS-GATE) launched a new workstation in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, on Wednesday.

The move was carried out to provide a new channel for global technology transfer, as well as corporate acquisition and restructuring of companies in Xinjiang.

Dr. Lin Jian, President of SS-GATE, said at the opening ceremony that Xinjiang has been experiencing fast development in recent years during its industrialization, and on account of innovative new technologies taking advantage of its natural resources and geographic position.

He said the establishment of a new workstation would speed up the process of Xinjiang's opening-up and serve as a means for cooperation between local and global companies in assets and technology.

The workstation would promote the internationalization and commercialization of the latest technological achievements of Xinjiang, and help local companies upgrade to more advanced technology, said Kurax Mahsut, vice-chairman of the autonomous region.

SS-GATE is a virtual and physical platform where entrepreneurs in developing countries can interact and obtain technology and finance in a secure environment, according to its official website.

Over 1,600 programs conducted on the platform of SS-GATE involve technologies concerning wind power and water resources, the processing of agriculture products, disposal of agricultural waste and the manufacturing industry.

Based in Shanghai and supported by the United Nations Development Program (UNDP), SS-GATE currently has 34 workstations in 28 countries worldwide.

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