Hohhot reports growth in industrial fixed asset investment
The construction site of a coal-to-ethylene glycol project developed by Inner Mongolia Jiutai New Material Co in Hohhot [Photo/Inner Mongolia Daily]
Hohhot in North China's Inner Mongolia autonomous region recorded an industrial fixed asset investment increase of 84.2 percent year-on-year in the first eight months of 2020, ranking second in the autonomous region, according to Hohhot Daily.
This year, Hohhot plans to implement 103 industrial projects, of which 42 are ongoing projects and 61 are new projects, with a total investment of 73.19 billion yuan ($10.80 billion).
The city plans to implement 58 key industrial projects worth more than 100 million yuan each, of which 31 are ongoing projects and 27 are new projects, with a total investment of 71.24 billion yuan.
From January to August, 50 key industrial projects, including Yili Modern Smart Health Valley's milk powder project and Inner Mongolia Jiutai New Material Co's glycol project, either started or resumed construction, with a resumption rate of 86.2 percent.