Hohhot Business Guide - Economic Overview

Hohhot Business Guide - Economic Overview


Vital Statistics (2006)

GDP: RMB 90.01 billion
GDP per Capita: RMB21, 873
Economic Growth Rate: 18%
Population: 1.40 million (urban) 1.13 million (rural)
FDI: US$483 million
Annual Average Wage: RMB19, 715
Government Effectiveness Rating: 78th
2006 Chinese Cities Competitive Rating: 56th

Hohhot Business Guide - Economic Overview
Hohhot, or ''the Green City''  in the Mongolian language, is the capital and the administrative, economic and cultural center of the Inner Mongolia Autonomous Region. It is located on the Tumerchuan Plain in northern China. It has been ratified by the State Council as a famous Chinese historical, cultural and northern frontier city and as a pilot city for using science and technology to help boost the economy. Hohhot is an important passageway connecting China to Mongolia, Russia and Eastern European countries.

As the most important industrial city in Inner Mongolia, Hohhot is developing along the path of modernizing its industrial structure and diversifying its economy. Named as the ''Chinese Dairy Capital''  in 2005, the city won the honor of one of the ten most economically dynamic cities in China and in 2006 it was appraised as one of the top 200 charming cities in China, top 100 Chinese cities in terms of tourism competitiveness, and a top 10 festival city in China.

The city has experienced a robust annual average growth rate of 15% or more from 2001, with the highest percentage increase rate among all 27 provincial capital cities in China and the highest economic aggregate among the capital cities of the five minority autonomous regions in China. Hohhot's investment in fixed assets has reached 162.8 billion RMB and the city has utilized actual foreign investment of US$1.32 billion, as well as 98.6 billion RMB in domestic investment. In 2006, the city's total industrial output was 90.01 billion RMB, up 18% from the previous year. The industrial added value output of the primary industries, secondary industries and the tertiary sector was 5.15 billion RMB, 35.02 billion RMB and 49.84 billion RMB respectively and fiscal income was 11.18 billion RMB.



Economic Contribution Ratios by Sector

In 2006, the economic contribution ratio of the primary industries including agriculture, forestry, animal husbandry and the fisheries, represented 5.7% of GDP; the economic contribution ratio of the secondary and value-added industries and construction represented 38.9%; while the economic contribution ratio of the tertiary sector represented 55.4%.

Composition of GDP (%)

Sector 2000 2003 2006
Primary 14 11.2 5.7
Secondary 43.8 37.6 38.9
Tertiary 42.2 51.2 55.4

Foreign Trade Overview
Hohhot has formed an export-driven opening up pattern with increasing trade and economic exchanges, technical cooperation and cultural exchanges with other cities and other nations in order to boost development of its economy. In 2006, it realized US$750 million in import/export volume, including US$445 million in exports and US$305 million in imports. There are more than 600 import and export enterprises and more than 120 nations and regions with trade relationships with Hohhot. The city has formed an export foreign exchange cluster consisting of the Inner Mongolia Foreign Economic and Trade Group, the Commodity Grain Group and the Yili, Mengniu, Qiankun, Yihua, Jinyu, Tieji, Zhonghuan, Shandan and Jiayibo companies. Hong Kong, Japan, South Korea, the EU and the US are the five largest export markets for Hohhot. Exported products are mainly grains, vegetables, dairy products and textiles.

Foreign Trade and Cultural Ties
Hohhot has built friendly sister city relationships with four cities around the world and frequently hosts cultural, educational and commercial exchanges with delegations and organizations from abroad. 

Hohhot's Sister Cities
 

Country City Date
Japan Okazaki 1987.08.10
Mongolia Ulaan Baatar 1991.12.10
USA Los Angeles 1998.10.02
Russia Ulan-Ude 2000.12.06


 

Warning:The use of any news and articles published on eChinacities.com without written permission from eChinacities.com constitutes copyright infringement, and legal action can be taken.

0 Comments

All comments are subject to moderation by eChinacities.com staff. Because we wish to encourage healthy and productive dialogue we ask that all comments remain polite, free of profanity or name calling, and relevant to the original post and subsequent discussion. Comments will not be deleted because of the viewpoints they express, only if the mode of expression itself is inappropriate.