Manufacturing sector burgeons in North China's Hohhot city
This new intelligent milk manufacturing plant in Hohhot is the biggest of its kind in the world. [Photo provided to en.hhhtnews.com]
The city of Hohhot – capital of North China's Inner Mongolia autonomous region – recently announced that the added value of its industries above a designated size grew by 2.5 percent year-on-year during the first eight months of 2022, according to local media reports.
Of these, the manufacturing industry, which accounts for more than 80 percent of the total industrial value, increased its added value by 5.6 percent year-on-year – extending the growth of industries above a designated size by 4.5 percentage points and becoming one of the main driving forces for local economic development.
The manufacturing industry for consumer goods increased in the period by 5.2 percent year-on-year, driving up manufacturers above a designated size – those with annual revenue of 20 million yuan ($2.8 million) or more – by 2.4 percentage points.
As a leading enterprise in the field of biological fermentation, Inner Mongolia Fufeng Biotechnology Co, based in Hohhot, has an annual corn processing capacity of 1 million metric tons.
At present, its six production lines churning out Fufeng xanthan gum are operating at full capacity, with a monthly production capacity of about 4,000 tons.
Last year, the company achieved an industrial output value of 4.17 billion yuan, sales revenue of 4.5 billion yuan, paid taxes of 140 million yuan and earned $250 million in foreign exchange from exports.
In the first half of this year, the output value of the company was 2.93 billion yuan, the tax revenue was 210 million yuan and the foreign exchange earned by exports was $167 million. This helped promote the development of employment, commerce, logistics, the services industry and the upstream and downstream sectors in Hohhot.
In the first half of 2022, local dairy giant Yili Group achieved a total operating income of 63.46 billion yuan, a year-on-year increase of 12.31 percent and a net profit of 6.139 billion yuan, a year-on-year increase of 15.4 percent.