Hohhot city records sound economic development in Jan-July
The economy of Hohhot, in Inner Mongolia autonomous region, is on the move, according to the latest statistics. [Photo/Hohhot news network]
The city of Hohhot – capital city of North China's Inner Mongolia autonomous region – got top marks for its economic achievements in the first seven months of 2022, according to local media reports.
From January to July, the added value of industries above a designated size increased by 3 percent year-on-year. The added value of the non-metals minerals products industry increased by 47.9 percent year-on-year, driving the added value of industrial enterprises manufacturers above a designated size – those with annual revenue of 20 million ($2.92 million) or more – to a 4.5 percentage point increase.
During the period, the consumer goods industry rose steadily. Due to the efficient industrial supply chain and most of the support facilities in the local or surrounding areas, output by the consumer goods industry generally remained stable.
The added value of agricultural and the sideline food processing industry, the tobacco industry and the food manufacturing industry increased by 8.5 percent, 4.5 percent and 2.2 percent year-on-year, respectively – driving the increase of their combined added value above a designated size by 1.2 percentage points.
Fixed-asset investment showed a year-on-year growth rate of 35.3 percent and investment in the primary industry increased by 100.8 percent year-on-year. Investment in the secondary industry increased by 3.1 percent year-on-year and investment in the tertiary industry increased by 48.9 percent.
The consumer market is now said to have recovered and the potential of domestic demand has gradually been realized. From January to July, the city's total retail sales reached 58.01 billion yuan ($8.46 billion), with the growth rate rising two places in the region to rank 10th.