Baotou attracts most investment projects in 2017

Baotou attracted a total of 1,120 investment projects with paid-in investment reaching 88.45 billion yuan ($13.94 billion) in 2017, ranking first in Inner Mongolia autonomous region, according to statistics released by the Statistics Bureau and the Development and Reform Commission of Inner Mongolia autonomous region. 

The paid-in investment made up 21.9 percent of the autonomous region’s total, with year-on-year growth of 16.8 percent.

The largest city of North China’s Inner Mongolia autonomous region made plans of 327 contracts for projects worth 422.78 billion yuan in 2017. The projects cover 15 areas including rare earth materials, high-end equipment manufacturing, new energy vehicles and clean energy.

A total of three investment promotion meetings and 26 related activities organized by the investment promotion bureau of Baotou have been organized in major cities like Beijing, Shanghai and Guangzhou, to further cooperation and attract investment to Baotou city.

A total of six key projects including a NI-MH power battery project and a permanent magnet material project have settled in Baotou in 2017.

Also, to strengthen ties with foreign companies, Baotou played an active role in international-level trade conferences and signed major contracts with companies in countries including New Zealand, Mongolia and Russia. 

Baotou of North China’s Inner Mongolia autonomous region attracts the largest number of investment projects in 2017 in the autonomous region. [Photo provided to chinadaily.com.cn]