Hohhot issues 10 policies targeting high-quality industrial development



Yili's smart factory has realized unmanned and intelligent management and control, and guaranteed the highest possible quality for its products. [Photo provided to chinadaily.com.cn]

Hohhot, capital of North China's Inner Mongolia autonomous region, will boost high-quality industrial development through a series of newly-released policies, according to local media reports.

The 10 policies include supporting the construction of industrial projects, enterprise technological innovation and digitization, enterprise resource conservation and comprehensive utilization, enterprise energy-saving technological transformation, and green manufacturing.

Hohhot has been promoting regional development, with steps taken in six major industries – dairy, biomedicine, photovoltaics, digital economy, modern logistics, and cultural tourism.

According to the newly-released policies, more support will be given to said industries.

For projects in these fields (including new construction, expansion, and technological transformation), a one-time investment bonus will be given at 2 percent of the actual investment in fixed assets after they are put into production, and the bonus fund for a single project will not exceed 10 million yuan ($1.57 million).

For projects in the fields of blockchain, internet of things, edge computing, industrial big data, artificial intelligence, and virtual reality, 20 percent of the actual completed investment will be rewarded. The subsidy fund for a single project may not exceed 2 million yuan.