Hohhot records 11.6% GDP growth in Q1
Hohhot in Inner Mongolia [Photo provided to chinadaily.com.cn]
Hohhot, capital of North China's Inner Mongolia autonomous region, reported steady economic growth in the first quarter of 2021, with the regional GDP hitting 71.90 billion yuan ($11.07 billion), an increase of 11.6 percent year-on-year, according to statistics released by the city's statistics bureau.
During the period, the added value of Hohhot's industries above a designated size increased by 9.4 percent year-on-year.
In the first quarter of the year, 20 out of 27 major industries achieved positive growth in added value, and relatively high growth was seen in industrial enterprises' profits.
From January to February, the city's industrial enterprises above a designated size achieved an operating income of 41.36 billion yuan, a year-on-year increase of 33.2 percent, and they realized profits of 4.09 billion yuan, a year-on-year increase of 180.1 percent.
The city's service industry recovered steadily in the first quarter. The added value of the transportation, warehousing and postal industries increased by 23.4 percent, and that of the real estate industry increased by 11.0 percent year-on-year.
Also in the first quarter, the city's fixed asset investment increased by 146.4 percent year-on-year, an increase of 117.2 percentage points from January to February (29.2 percent).
Large projects supported the growth of industrial investment. In the first quarter, the city's industrial investment increased by 4.7 times year-on-year, accounting for 62.9 percent of the city's investment, and driving the city's investment growth by 127.7 percentage points.
Investment in high-tech industries has also increased significantly. In the first quarter, the city's high-tech industry investment increased by 84.2 percent. Of this total, high-tech manufacturing industry investment increased by 88.2 percent, and high-tech service industry investment increased by 77.8 percent.