Ordos' industrial growth shows resilience in 2022
Updated: 2023-02-08 (chinadaily.com.cn) Print
The city of Ordos in North China's Inner Mongolia autonomous region rolled out a series of policies in 2022 to ease the burden on local enterprises and to help them solve problems.
Thanks to solid efforts from the local government to balance economic and social development, as well as epidemic prevention and control policies, its industrial economy showed a steady resilience last year.
According to statistics, the city's industrial enterprises above designated size generated an operating income of 800.26 billion yuan ($118.08 billion), up 16.2 percent year on year. This is one percentage point higher than that of the autonomous region, and accounts for 28.4 percent of the region's total.
The main contributors include the coal mining and washing industry; chemical raw materials and chemical products manufacturing; power and heat production and supply; oil, coal and other fuel processing; and petroleum and natural gas exploitation.
Industrial enterprises above designated size in Ordos saw their profit rate grow by 26 percent, or to 244.49 billion yuan. This is 7.7 percentage points higher than that of Inner Mongolia and accounts for over 60 percent of the autonomous region's total.
Meanwhile, the overall cost incurred by those enterprises was reduced to 64.67 yuan, 18.39 yuan lower than the region's average.
These enterprises above designated size improved their innovation capabilities through investing more in research and development. In 2022, Ordos' total R&D expenditure was 7.72 billion yuan, an increase of 34.5 percent. This was higher than both Baotou and Hohhot, two other industrial cities in the region.
In addition, a group of local companies, such as the Ordos Yuansheng photoelectric Co and the Inner Mongolia Yitai Co, has grown into innovation leaders in their respective industries during this time.