Despite pandemic, Ordos’ economy is on the rebound
Updated: 2020-11-26 Print
Ordos city in North China’s Inner Mongolia autonomous region is experiencing an economic rebound despite the lingering impact of the novel coronavirus outbreak.
Statistics show that in the first three quarters of this year, Ordos achieved a regional GDP of 251.03 billion yuan ($37.66 billion), with the rate of decrease narrowing by 1.2 percentage points from the first half of the year.
During the same period, the city completed a fixed asset investment of 45.69 billion yuan, a year-on-year increase of 5.4 percent.
Ordos has cut taxes and fees for local enterprises by a total of 4.83 billion yuan. It has also handled 7.04 billion yuan in deferred debt and interest payments and 11.03 billion yuan in renewal loans for struggling enterprises.
In the first nine months of this year, newly-issued loans in Ordos city reached 34.4 billion yuan, and private investment experienced positive growth, increasing by 8.6 percent.
The natural gas production, power generation and electricity consumption throughout the city have increased steadily, and 21,000 new jobs have been created.
It is expected that the city's annual GDP, fixed asset investment, public financial budget revenue and other major economic indicators will turn from negative to positive growth and inject strong impetus into regional development.
Ordos is striving to create a suitable environment for the development of the digital economy. To date, the city has built 914 5G base stations with 286,500 users, and the installed capacity of big data cloud computing servers has exceeded 300,000 sets.
It has also established a coal supply chain service platform, a coal production big data platform, an Inner Mongolia cashmere transaction big data platform, a logistics internet information public service platform and a fertilizer industry big data service platform, all of which play an essential role in assisting the digital transformation of the city’s industrial sector.