We have developed novel bismuth-based photonic crystal fiber which exhibits high nonlinearity gamma similar to 780 W(-1)km(-1) and relatively low group-velocity-dispersion D similar to -25 ps/nm/km at 1560 nm. The new fabrication process was also developed for this novel photonic crystal fiber with 6-fold symmetric structure. The core diameter 2.7 mu m of this fiber was designed to have modelately decreased normal dispersion and high nonlinearity. Spectral broadening induced by self-phase-modulation by 1550 nm fs-pulse propagation shows that the high nonlinearity and dispersion reduction is simultaneously achieved.