Shangming (Inner Mongolia) Automobile Co has developed two main business sectors by utilizing the logistical advantages of the Hohhot Comprehensive Bonded Zone: customized modification of new vehicles and refurbishment and export of used cars, with their products primarily exported to Mongolia, Russia, and Kazakhstan.

Employees modify vehicles. [Photo/Hohhot Convergence Media]

Camper modifications are mainly targeted at Mongolian customers, while high-end business modification vehicles, focusing on luxury travel scenarios, are exported to the Middle East market.

Hohhot was approved as a national pilot city for used car exports in 2022, with the first batch of used cars being dispatched from the bonded zone on March 18, 2023. By 2024, the bonded zone had achieved the top position in both vehicle quantity and value in the used car export sector, and in 2025, it innovatively expanded its vehicle modification export business.

In the bonded zone, Inner Mongolia Qiankun Gold and Silver Refinery Co's overall equipment installation rate is 80 percent. Equipment testing and production are scheduled for completion by the end of this month.

The Qiankun Gold and Silver Refinery. [Photo/Hohhot Convergence Media]

After production begins, the company will conduct gold and silver storage business for the Shanghai Gold Exchange, with plans to store five to eight metric tons of gold and 30 to 50 tons of silver in 2026. The refinery has already reached a preliminary agreement on cooperation with the Central Bank of Mongolia.