Also, a flexible commercial land leasing policy that reduces the cost of land for industrial use will be tested.

Han Linzhi, a research fellow at the Institute of Economic Research under the region's development and reform commission, said the idea of currency swap put forward by

Xinjiang to embrace era of high-speed rail

Textiles fuel push for jobs in Xinjiang

Tuesday's document would help to reduce funding costs, fix exchange rates and therefore increase the opportunities of trade and investment settled in yuan between China and neighboring countries.

Meanwhile, new policies related to attracting talents are a major part of the document. High-end apartments, financial incentives and more favorable policies will be implemented to help key institutions and companies attract talented and skilled personnel.

New regulations on entry and exit procedures will be streamlined, according to the document.

Bordering on five Central Asian countries including Tajikistan, Kyrgyzstan and India, Kashgar boasts five national ports that allow both Chinese and foreign personnel, commodity and vehicles to leave and enter China.

As China's westernmost end of the Euro-Asia continental bridge, Horgos with its open port that features integrated transportation of railway and highway faces densely populated areas and market centers in Central Asia.

"The regional government has set the goal to turn Xinjiang into an important platform for the allocation of resources and a regional capital market center in Central Asia, which means a lot to the development of the Silk Road economic belt," Han said.