Hohhot industry enjoys healthy growth

Hohhot has achieved steady growth in the industrial sector during the first eight months of 2017, with the total value of industrial output reaching 124.06 billion yuan ($18.71 billion), up by 8 percent from a year ago, according to government statistics.

For the first two quarters of the year, Hohhot's value-added industrial output reached 32.52 billion yuan ($4.9 billion), accounting for 23.7 percent of Hohhot's GDP, up from 2.3 percent a year ago, the highest rate since 2014. 

The profits of industrial companies increased rapidly thanks to rising product prices and falling corporate costs.

The cost of nine main industrial products like caustic soda, electrolytic aluminum, cement, and PVC has continued to rise, contributing to high profits during the first eight months of the year.

Meanwhile, Hohhot has continued to launch preferential policies and cut administrative fees.

Corporate costs have dropped, accounting for 75 percent of the main business revenues of industrial companies on average in August, compared with 77.4 percent a year ago, according to statistics.

For the first eight months of this year combined, industrial companies in Hohhot saw profits reach 12.06 billion yuan ($1.82 billion), up 100.3 percent year-on-year.

This English version is only for reference. To learn more, please refer to the authoritative Chinese version.