Shengle Modern Service Industry Cluster is located in Hohhot, in Inner Mongolia [Photo/Hohhot Daily]
In North China’s Inner Mongolia autonomous region, with the rapid development of its capital city’s economy in recent years, Hohhot's services sector has also grown and become more modern and dynamic.
That has been especially true in the areas of finance, logistics and tourism, according to local officials.
In 2019, Hohhot's services industry above a designated scale achieved an operating income of 63.37 billion yuan ($8.95 billion), accounting for 39.65 percent of the autonomous region’s total, ranking top of the 12 leagues and cities in the autonomous region.
Hohhot city has 25 autonomous region level services industry clusters, accounting for a quarter of the autonomous region's total.
In the first half of 2019, the 25 service industry clusters posted revenue of 31.33 billion yuan, with completed new investments of 2.68 billion yuan. A total of 7,947 enterprises have settled in the industry clusters there, creating 81,518 jobs.
Taking advantage of the development zones, Hohhot is moving to capitalize on the mutual synergies of its modern services industry and advanced manufacturing industry.
Hohhot has 13 development zones of or above the autonomous region level and nearly half of the 25 modern services industry clusters were formed in the development zones.
Productive service sectors such as R & D, logistics, marketing and finance -- for enterprises in the development zones -- have promoted the further improvement of the levels of manufacturing specialization. They have reduced the costs of intermediate services in the manufacturing industry and effectively improved the competitiveness of the products.