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Home >> Business
UPDATED: 16:30, February 05, 2006
Inner Mongolia's economy maintains a rapid growth momentum
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The total output value in Inner Mongolia Autonomous Region was expected to reach 380 billion yuan in 2005, 120 percent higher than that in 2000, registering an average annual increase of 16.6 percent.

The economic growth in the region has been the nation's top for consecutive years, with per capita GDP exceeding 1,900 US dollars, higher than the nation's average level; the urban per capita disposable income and rural per capital net income are expected to reach 9,130 yuan and 2,980 yuan, up 78 percent and 46 percent respectively.

During the "Tenth Five-Year Plan" period, the gross fiscal revenue in the region reached 53.63 billion yuan, 2.4 times more than 15.56 billion yuan in the past, setting an average annual growth rate of 28 percent.

Inner Mongolia Autonomous Region is rich in resources, especially cashmere, coal, rare-earth and natural gas. However in the past, the exploitation and utilisation of resources were rather inefficient, which resulted in the so called "poor returns from rich resources".

The economic development of Inner Mongolia has experienced great changes both in terms of external image and internal quality since China initiated the "Tenth Five-Year Plan" period. Yang Jing, Chairman of Inner Mongolia Autonomous Region noted that the region's development relies on the proper handling of the relations between speed, structure, quality as well as benefits, and development must be based on optimised structure, high quality, growth benefits and low energy consumption.

During the "Tenth Five-Year Plan" period, Inner Mongolia laid emphasis on six unique and competitive industries, namely energy, chemicals, metallurgy, equipment manufacturing, processing of farm produce as well as hi-tech products. Well-known enterprises such as ERDOS, Yili and Mengniu and their products have become "name card" of Inner Mongolia.

Inner Mongolia is not so competitive scientifically, but several of its indicators are among the nation's leading positions: newly-added output value generated by every 100 million yuan investment and labour productivity of high-tech employees rank the first and second in China respectively; the added value of high-tech industry and the number of technical professionals in every 10 thousand population entered the country's top seven.

By People's Daily Online

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