Hohhot's economy soars boosted by industrial growth, projects

A freight train hauling goods departs Hohhot International Land Port Shaliang Logistics Park. [Photo/Hohhot news network]

In the first half of 2024, the economy of Hohhot – capital city of North China's Inner Mongolia autonomous region – demonstrated robust momentum, putting on a 6.2-percent GDP growth rate, a 14.9-percent increase in fixed asset investment and a 29.7-percent surge in foreign trade.

The figures highlighted the city's marked progress in restructuring its industries, boosting spending and improving the livelihoods of residents.

Key sectors performed strongly in the six months, with the agriculture, forestry, animal husbandry and fisheries sectors showing collective growth of 4.5 percent.

Elsewhere, industrial output by large-scale business enterprises grew by 9.5 percent, while the service industries also expanded, achieving a combined revenue increase of 11.6 percent.

Fixed asset investment hit 56.01 billion yuan ($7.94 billion), reflecting a 3.4-percent rise in retail sales – driven by major projects like the "Double 1,000" initiative, which focuses on over 1,100 projects with investments exceeding 150 billion yuan.

Hohhot's focus on urban development through these projects aims to enhance its livability, work opportunities, education, healthcare and tourism.

The city is also leveraging cultural events, such as a raft of concerts, to raise its national profile and attract more visitors – with a 10.96-percent increase in tourist numbers in the half year and a 22.12-percent growth in tourism spending.

Moving forwards, Hohhot is committed to sustainable, high-quality economic growth, positioning itself as a dynamic center of development.