Hohhot city experiences solid economic growth
A panoramic view of Yili Future Intelligence and Health Valley. [Photo provided to en.hhhtnews.com]
Hohhot, capital city of North China's Inner Mongolia autonomous region, has recorded solid economic growth in the first seven months of 2022 and strong investment, according to local media reports.
From January to July, the city's industrial added value above a designated size increased by 3 percent year-on-year. The city's fixed asset investment surged by 35.3 percent year-on-year and the growth rate was 4.9 percentage points higher than the autonomous region's average.
During the period, investment in the three key industry categories increased in an all-round way – sometimes substantially. For example, investment in the primary industry increased by 100.8 percent year-on-year. Investment in the secondary industry increased by a more modest 3.1 percent but investment in the tertiary industry increased by 48.9 percent.
The Yili Global Intelligent Manufacturing Industrial Park – part of Yili Future Intelligence and Health Valley – officially started operations on July 12 in Hohhot.
This is the latest in key projects there which have now been completed and gone into use. They include an intelligent liquid milk plant, an intelligent milk powder manufacturing plant, the Chilechuan intelligent ecological ranch and the Yili intelligent manufacturing experience center.
On Aug 30, Yili Group released its 2022 half-year financial results, with the company posting a total operating income of 63.46 billion yuan ($9.12 billion) for the six months, a year-on-year increase of 12.31 percent and a net profit of 6.14 billion yuan, up 15.4 percent. The growth rate for milk powder and dairy products was 58.28%, ranking it first in the world.