The Purang Thangka International Trade Market held its cornerstone laying ceremony on April 8th, marking the formal construction of the market.
A total of 195 million yuan was invested in the Purang Thangka International Trade Market, with two years of construction planned. The market will take up 72,403sqm, and be completed in three phases.
The total construction area is 47,467sqm, with 36,613 sqm constructed in Phase one and two. There will be 304 shops, 171 apartments, and 4,303 sqm of warehouse space. After the project is completed, the market will be a combination facility offering border trading, commerce and leisure, and logistics and storage.
The Ngari Prefecture is a crucial channel linking China and South Asia. Purang County borders India on the southwest and also links to Nepal on the South; the areas have enjoyed a long history of trading. The Thanka market has had over 500 years of history. In the 1950s, China approved opening the Purang International Market, which became a second-level national port in China in 1995.
According to data from Purang County’s Port Management Committee, as of November of 2015, there have been 557 businesses operating out of Purang, an increase of 64.3% from the previous period. Total trade volume is at 54.19 million yuan, a growth rate of 49.3%; and a total of 12,736 people have passed through the port.