Under the implementation of national, provincial and municipal policies, Baotou's economy from January to July saw a satisfactory production situation and strong consumption recovery.

The industrial economy is operating at a high level and the transformation of old and new kinetic energy has been accelerated. It has reported that from January to July, the city's industrial added value above designated size increased by 16.6 percent year-on-year, achieving double-digit growth for 23 consecutive months.

The rare earth and photovoltaic manufacturing industries have made strong contributions. The output of major products such as monocrystalline silicon has seen strong growth, and the connection between production and sales remains stable.

Investment maintained rapid growth and industrial smart manufacturing accelerated. From January to July, the city's fixed asset investment increased by 30.2 percent year-on-year and has maintained a growth rate of more than 30 percent this year.

The city's consumer goods market continued to recover, and there was a clear trend of consumption upgrading. In July, the city's total retail sales of consumer goods reached 9.29 billion yuan ($1.36 billion), a year-on-year increase of 1.6 percent. Daily consumption received strong support, consumption upgrading has accelerated, the consumption of petroleum has continued to grow, the recovery of automobile commodities has accelerated, the production of raw coal has grown rapidly, and consumption of electricity has grown steadily.

Next, Baotou will coordinate epidemic prevention and control work and economic and social development, consolidate the existing strong development momentum, and promote the sustainable and healthy development of the city's economy.

Source: http://innermongolia.chinadaily.com.cn/baotou/2022-08/22/c_799404.htm