The signing ceremony of the first five enterprises cooperative programs was held on Thursday in the Yinchuan Free Trade Zone. The companies included are Ruyi Group of Shandong, Burgundy Company France, the textile industry bureau of Ningxia Hui Autonomous Region, the cooperation with Mohammed Hu Shinan and the Korea Puxiang Steel Group.

With the permission of the State Council, the Free Frade Zone was established in Yinchuan in September, 2012. The infrastructure of the zone will be completed by July of this year and will be up and running on September 12.

The free trade zone plans to launch 27 investment projects. So far, 150 enterprises are willing to settle here, of which 30 has signed contracts worth 12.2 billion yuan, covering industries such as aviation, wine, Muslim food and products, logistics and leasing.

Mayor of Yinchuan Ma Li stated that the application and permission of the free trade zone are very quick and effective. He emphasized the signing ceremony meant the construction of the zone has entered a critical stage. The city will work harder to complete the launch of all the projects early, and push forward the development of the local economy.