Hohhot records recovery in industrial economy from Jan-Sept

2020-11-04 (chinadaily.com.cn)

Since the beginning of the year, the industrial economy of Hohhot, North China's Inner Mongolia autonomous region, has maintained a steady growth, with major economic indicators showing relatively good performance despite the impact of the COVID-19 pandemic, according to information released by the city's industry and information technology bureau.

The growth rate of the city's industrial economy rose from 4.7 percent in the first quarter of 2020 to 5.1 percent in the first three quarters.

In the first three quarters of this year, the city's top 20 key industrial enterprises above a designated size completed an output value of 79.58 billion yuan ($11.90 billion), accounting for 74.3 percent of the city's total industrial output value.

During the period, leading industries supported the steady growth of the city's industrial economic development.

Leading industries such as dairy products, biomedicine, photovoltaic materials, and tobacco processing completed output values of 14.11 billion yuan, 9.38 billion yuan, 9.41 billion yuan, and 5.59 billion yuan respectively.

The year-on-year growth was 24.7 percent, 10.7 percent, 3.5 percent, and 29.1 percent, respectively.