Reasons for foreigners to invest in Hohhot
Hohhot is a rising star in northwest China and attracts an increasing number of people to invest and live here.
The economy in Hohhot in 2015 maintained a medium-high growth with an average annual growth of GDP at 8.3 percent, public incomes at 17 percent, fixed asset investment at 15.8 percent, retail sales at 7.8 percent, and of per capita incomes of urban people at 7.6 percent.
Four reasons contribute to Hohhot's outstanding performance in economic development.
Strategic geographic location
Hohhot is the capital of Inner Mongolia autonomous region, a political, economic, cultural, scientific, technological, educational and financial center, a national tourism city, and also the first national forest city in west China. It is 460km from Beijing and is covered by the strategies of the Bohai Economic Rim, Western Development, and Revitalizing Old Industrial Bases of Northeast China, and the Hohhot-Baotou-Ordos-Yulin economic region.
There are 45 national highways crossing the city, a second-grade Hohhot Baita Airport with 81 routes to domestic major cities, and a high-speed railway under construction to reach Beijing in two hours.
Valuable natural resources
Hohhot is also advantageous in water, electricity, coal, gas and land. With 37.5 kilometers of the Yellow River flowing through the city, it is approved to draw 400,000 tons of water a day. The total installed capacity in power generation is 8.2 million kilowatts, of which 500,000 kilowatts is from wind power.
The Jungar Coalfield, 100 kilometers away, has proven reserves of 54 billion tons and an annual exploration of 100 million tons. Its quality coal is sold at 350-500 yuan a ton.
The 300-kilometer-away Sulige gas field, known as China's largest complete gas field, has proved reserves of 602.5 billion cubic meters and an annual gas supply to Hohhot of 950 million cubic meters a year.
Favorable investment environment
As a capital, it is also developed in commerce, logistics, conferences and exhibitions, medical care, tourism, culture and entertainment.
With abundant land resources, the city has planned 240 square kilometers for development zones, of which 40 square kilometers are already in use.
Hohhot has more than 70 percent of Inner Mongolia's senior education resources and 40 percent of its scientific and technological resources, gathering technologies and talented personnel and meeting companies' needs for different levels of talent.