Inner Mongolia sees foreign trade growth in first 5 months

North China's Inner Mongolia autonomous region achieved 45.18 billion yuan ($6.54 billion) in foreign trade in the first five months of this year, an increase of 7.9 percent over the same period last year, according to a statement by local authorities on June 18.

Foreign trade with countries involved in the Belt and Road Initiative reached 30.14 billion yuan, accounting for 66.7 percent of the total. This is the result of Inner Mongolia's efforts to build the China-Mongolia-Russia economic corridor and carry out the Belt and Road Initiative.

Furthermore, the rapid development of the region's advanced manufacturing industry, the introduction and implementation of policies and measures directed at foreign companies and foreign trade, policies to encourage the import of resource-based products, tax reductions, and fee reductions have provided a boost to foreign trade.