A tranquil view of Hohhot [Photo provided to en.hhhtnews.com]

A total of 503 major projects in Hohhot, capital city of North China's Inner Mongolia autonomous region, completed their annual investment targets ahead of schedule, according to local media reports.

From January to October, the city's fixed-asset investment increased by 19.4 percent year-on-year.

The Hohhot Municipal Development and Reform Commission and other departments have helped companies solve their supply chain and capital chain difficulties by streamlining channels. Moreover, they are focusing on reducing the impact of the COVID-19 epidemic, so as to promote the construction of key projects.

Hohhot has established a fast-track channel for personnel to return to work, smoothing transportation channels for the energy materials and production materials of key enterprises – ensuring uninterrupted transportation and continuous supply of materials during the pandemic period.

It has also actively applied for funds from the central budget, as well as local government special bonds and policy funds and supported the construction of a raft of major projects.

Recently, the city organized and applied for a total of 152 projects for central budget funds for 2023, 178 local government special debt projects and it promoted the implementation of 129 stock asset revitalization loan projects.

At present, Hohhot has reserved 1,025 key projects planned for implementation in 2023, with an annual investment of 124.3 billion yuan ($17.27 billion).

Moving forwards, Hohhot will focus on a service guarantee for 307 winter construction projects and accelerate its continued economic recovery and high-quality development.