The opening ceremony for the Alumni Economy Forum is held in Arxan, Hinggan League, North China's Inner Mongolia autonomous region, on Aug 5. [Photo/wechat account of Inner Mongolia Daily]

The opening ceremony for the Alumni Economy Forum was held in Arxan, Hinggan League, North China's Inner Mongolia autonomous region, on Aug 5, aiming to promote the development of the alumni economy, boost industrial development, and accelerate local poverty alleviation in Hinggan League.

At the opening ceremony, 27 cooperation agreements were signed between Hinggan League and a number of alumni enterprises to carry out projects related to high-technology, general airports, cultural tourism, and more. The projects are worth a total of 28.7 billion yuan ($4.09 billion).

During the forum, eight well-known entrepreneurs made keynote speeches themed around the alumni economy and its promotion of poverty alleviation, industrial development, and green development.

The alumni economy forum and the Inner Mongolian and Chu merchants' forum were also held to advance cooperation between Hinggan League and well-known domestic enterprises.

The alumni entrepreneur club is launched at the opening ceremony on Aug 5. [Photo/wechat account of Inner Mongolia Daily]

According to local media reports, the event attracted over 100 renowned alumni entrepreneurs and representatives of Chu merchants (businessmen and businesswomen of Central China's Hubei province), who witnessed the launch of the alumni entrepreneurs club.

The alumni economy offers a new way to promote high-quality economic development through openness and cooperation. Since last year, Hinggan League has established close contacts with the Alumni Entrepreneur Association of Wuhan University and the Association of Chu Merchants of Hubei Province.

The local government has set up an industrial fund for the alumni economy, established the Green and Innovation Demonstration Industrial Park of the Alumni Economy, and started cooperating with Chu merchants, which has contributed to local poverty alleviation and helped build a moderately prosperous society.