A splendid aerial view of Hohhot city in Inner Mongolia [Photo/Inner Mongolia Daily]

The city of Hohhot – capital of North China's Inner Mongolia autonomous region – ramped up its promotions of investments last year and 1,055 key projects were implemented, with a total estimated investment of 111.46 billion yuan ($16.36 billion).

In 2023, plans are for more than 1,100 key projects to be implemented in the city, with a total investment of more than 120 billion yuan.

This year, Hohhot will strive to introduce more than 400 projects worth more than 100 million yuan each, with 50 billion yuan of domestic funds in place and 700 million yuan in foreign capital.

In the wake of the rolling out of a series of policies and measures, Hohhot ranked second in the 2022 assessment of the autonomous region's business environment.

As an important engine for the high-quality development of the autonomous region and Hohhot, the Horinger New Area has always made attracting investment its top priority.

Last year, the new area successfully completed its set targets for attracting investment. It signed up 90 industrial projects with a total investment of 129.77 billion yuan, of which 65 key industrial projects were implemented. The annual investment in industrial fixed assets was 4.38 billion yuan.

Moving forwards, plans are for it to focus on developing the Horinger Data Center for the National Hub of National Integrated Computing Power Network – and the Horinger Talent Science and Technology Innovation Center – as well as to augment its efforts in investment promotions.

Meanwhile, in Tumd Left Banner – where Yili Future Intelligence and Health Valley is located – the development of key industries expanded last year.

The GDP there came in at 27 billion yuan, a year-on-year increase of 7 percent, with the growth rate ranking number one in the city.

The added value of industries above a designated size increased by 13 percent year-on-year and the growth rate ranked first in the city.