Hohhot city. [Photo/Hohhot news network]

Hohhot, capital city of North China's Inner Mongolia autonomous region, is intensifying efforts in four key areas: strengthening its financial aggregation functions, enhancing the quality and efficiency of its financial services, focusing on high-quality development, and optimizing its financial ecosystem.

The city is uniting efforts to establish itself as a regional financial hub, aiming to comprehensively enhance its financial service capabilities.

Currently, there are 12 listed companies in the city. Of which, Inner Mongolia Oujing Technology Co was the region's first listed new energy enterprise. It was listed on the Shenzhen Stock Exchange on Sept 30, 2022.

Hohhot is home to 137 financial institutions and 68 local financial organizations. Most major banks, insurance, and securities institutions in the autonomous region are located in Hohhot. This has caused the formation of a modern financial service system.

In 2023, the added value of the city's financial industry grew by 8.7 percent year-on-year, accounting for 8 percent of the city's total GDP. This surpasses the regional average by 3.6 percentage points. 

The city aims to achieve stable growth in its financial scale by 2027. It aims to increase the number of its financial institutions to 150, and increase the proportion of added value in its financial industry to more than 10 percent. This will demonstrate the city's commitment to becoming a prominent regional financial hub.