Economy of Inner Mongolia
Economy
Farming of crops such as wheat takes precedence along the river valleys. In the more arid grasslands, herding of goats, sheep and so on is a traditional method of subsistence. Forestry and hunting are somewhat important in the Daxingan ranges in the east. Reindeer herding is carried out by Evenks in the Evenk Autonomous Banner.
Inner Mongolia has abundance of resources especially coal, cashmere, natural gas, rare earth elements, and has more deposits of naturally-occurring niobium, zirconium and beryllium than any other province-level region in China. However in the past, the exploitation and utilization of resources were rather inefficient, which resulted in poor returns from rich resources. Inner Mongolia is also an important coal production base in north China.
Industry in Inner Mongolia has grown up mainly around coal, power generation, forestry-related industries, and so forth. Inner Mongolia now laid emphasis on six competitive industries, namely energy, chemicals, metallurgy, equipment manufacturing, processing of farm (including dairy) produce as well as hi-tech products. Well-known Inner Mongolian enterprises include companies such as ERDOS, Yili, and Mengniu.
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