Ordos benefits from healthy economic growth in 2023

Ordos city has experienced a steady economic recovery and seen improvement in supply and demand since the beginning of this year, with the accelerated optimization of structural adjustments driving high-quality development.

From January to November, the added value of industries above designated size in the city increased by 5.9 percent year-on-year.

The mining, manufacturing, and electricity, heat, gas, and water production and supply industries continued to grow, with their added value increasing by 5.3 percent, 4.2 percent, and 15.9 percent, respectively.

The energy industry played a significant role in shoring up the economy, with the added value of energy industries above designated size increasing by 6.1 percent year-on-year, contributing 5.4 percentage points to the growth of the overall industrial added value.

Elsewhere, emerging products showed strong momentum, with automobile production increasing 54.2 percent, LCD panel production up 25.0 percent, polysilicon production jumping 17.6 percent, and monocrystalline silicon production reaching 10.02 million kilograms, while lithium-ion battery production hitting 7.94 million units.

Furthermore, in the first 11 months, the operating income of the service industry above designated size in the city reached 44.34 billion yuan ($6.07 billion), an increase of 3.6 percent year-on-year.

Gradual improvements in market demand and the growth of high-speed investment have contributed to the increasing momentum in terms of development. During the 11-month period, fixed asset investment jumped 30.0 percent year-on-year.

Specifically, investment in the primary industry increased by 2.9 percent to comprise 1.5 percent of total investment); investment in the secondary industry grew by 42.2 percent to make up 71.2 percent; and that in the tertiary industry climbed 7.5 percent to represent 27.3 percent of the pie.

In terms of key sectors, private investment saw an increase of 30.0 percent year-on-year, infrastructure investment witnessed a 7.8-percent year-on-year growth, and manufacturing investment jumped 154.5 percent.