An aerial picture of Hohhot, Inner Mongolia [Photo/WeChat account of Wenlyu Qingcheng]

The city of Hohhot – capital of North China's Inner Mongolia autonomous region – is poised to further boost its high-quality development in 2023, with development goals set, according to its government work report.

The city has recorded progress in its economic indicators last year, with its regional GDP increasing by 3 percent, added value of industries above a designated size increasing by 4 percent, fixed-asset investment growing by 12 percent, and per capita disposable income of urban and rural residents increasing by 4 and 6 percent respectively.

Mengniu Dairy Industrial Park located in Hohhot, Inner Mongolia [Photo/WeChat account of Wenlyu Qingcheng]

This year, Hohhot will implement more than 1,100 key projects and complete a total investment of more than 120 billion yuan ($17.78 billion).

What's more, Hohhot is striving to introduce more than 400 projects worth 100 million yuan or more each and complete capital expenditure on them of more than 50 billion yuan.

It will step up efforts to attract investment and focus on Fortune 500 companies, industry leaders and listed groups in Hohhot's six major industrial clusters – green agricultural and livestock product processing, clean energy, the modern chemicals industry, new materials and modern equipment manufacturing, biomedicines and electronics information technology.

Goals are set for Hohhot that the regional GDP is expected to achieve a year-on-year growth of 6 percent this year, and the added value of industries above a designated size is to grow by 8 percent year-on-year.

The fixed-asset investment is expected to grow by more than 10 percent, and per capita disposable income of urban and rural permanent residents will both grow by more than 6 percent.

Also, the city plans to add 45,000 new business entities this year, an increase of 15 percent.