Baotou high-tech district records economic growth in Q1

Growth in the industrial economy remained steady in Baotou Rare Earth High-Tech Industrial Development Zone in Baotou city -- in North China’s Inner Mongolia autonomous region -- in the first quarter of 2020, according to a May 14 report in the  Baotou Daily.

In the first quarter, the work and production resumption rate of 101 manufacturers above a designated size in the zone – those with annual sales of 20 million yuan ($2.8 million) or more -- reached 99 percent.

The added value of industries above a designated scale increased by 6.3 percent year-on-year, 2.8 percentage points higher than the city's average level.

Among them, the Q1 added value of the leading rare earth, aluminum and copper and equipment manufacturing industries increased by 8.5 percent year-on-year and the total accounted for 72.4 percent of the added value of all industries above a designated size in Baotou city.

According to statistics, in the first quarter, large and medium-sized enterprises became the main force of economic growth in the high-tech zone.

Of these, 22 large and medium-sized companies and 14 State-owned holding enterprises realized industrial added value accounting for 80 percent and 23 percent of the total industrial added value of all the above-scale industries, up 10.3 percent and 22.1 percent respectively.