Ordos economy recovers amid epidemic

Updated: 2021-08-11 (chinadaily.com.cn) Print

The city of Ordos in North China's Inner Mongolia autonomous region is exploring a new path of high-quality economic development prioritizing the environment and green development.

Significant economic achievements have been made due to the city's continuous efforts.

Foreign trade

Currently, Ordos' products are exported to more than 90 countries and regions around the world, including 10 million LCD panels, 20,000 cars, 250,000 metric tons of chemical products, and 2 million cashmere products.

The total value of its exports exceeds 4 billion yuan ($600.15 million) annually.

In the past, Ordos' products were mainly exported by sea through Tianjin Port in North China, which took 35 to 40 days.

Meanwhile, a China-Europe freight train connecting the city of Ordos in North China's Inner Mongolia autonomous region to Moscow in Russia officially started on Aug 6.

The whole journey is about 7,600 kilometers in length, and is expected to take about 15 days.

Industrial economic operation

In the first half of this year, 453 investment projects with a total investment of 593.6 billion yuan were signed into agreement or started construction. A total of 76.2 billion yuan in investment is expected to be put in place this year.

From January to June, Ordos' GDP increased by 11.1 percent, fixed asset investment increased by 53.5 percent, and its general public budget revenue increased by 28.7 percent, with all major economic indicators maintaining double-digit growth.

Since the beginning of this year, Ordos' service industry has gradually recovered despite the impact of the virus. From January to May, service enterprises above designated size in the city achieved a combined operating income of 15.18 billion yuan and an operating profit of 2.01 billion yuan.

Two Companies in Ordos made the newly-released 2021 Fortune China 500 enterprise list, namely Inner Mongolia Yitai Coal Co and Inner Mongolia Ordos Resources Co.