A signing ceremony for the High-end Summit for Chairman of ACFIC in 2021 is held in Hohhot on July 20. [Photo/Inner Mongolia Daily]

North China's Inner Mongolia autonomous region signed 138 investment cooperation agreements at the High-end Summit for Chairman of ACFIC in 2021, which was held in the region's capital city Hohhot on July 20.

The contracted projects involve 12 key areas, including energy, agriculture and animal husbandry, energy conservation and environmental protection, digital economy, equipment manufacturing, building materials and chemicals, infrastructure, cultural tourism, the modern service industry, and strategic emerging industries.

Among the contracted agreements are 42 formal agreement projects and 96 framework agreement projects. Thirty-two of them involve in Global Fortune 500 enterprises, China Fortune 500 enterprises, and China's top 500 private enterprises.

The investment in these projects will help promote the transformation and upgrading of Inner Mongolia's industries and innovative development.

In recent years, Inner Mongolia has been focusing on the development of the private sector and has launched preferential policies and support to encourage and guide its development.

In 2020, the entry threshold for the top 100 private enterprises in Inner Mongolia continued to rise, reaching 1.47 billion yuan ($220.56 million), while the total income of the enterprises has reached 635.11 billion yuan, increases of 11.98 percent and 8.68 percent year-on-year, respectively.

In the first four months of this year, enterprises above designated size in the region earned 489.01 billion yuan in revenue and 58.79 billion yuan in total profits.

The profits of private enterprises increased by a factor of 2.5 year-on-year.