N. China's Inner Mongolia deepens financial integration to support BRI cooperation

North China's Inner Mongolia Autonomous Region has constantly improved cross-border financial services and business environment to support Belt and Road cooperation. 

Currently, Inner Mongolia has established trade relations with over 160 countries and regions worldwide. From 2013 to 2020, trade volume between Inner Mongolia and the Belt and Road partner countries reached 250.14 billion yuan (about 34.57 billion U.S. dollars), accounting for 29.51 percent of the region's total cross-border trade. In the past three years, Inner Mongolia's cross-border trade exceeded 35.6 billion yuan annually. 

Meanwhile, the region has set up or invested in 330 enterprises in 25 Belt and Road partner countries, accounting for 69.77 percent of Inner Mongolia-invested enterprises abroad. The Belt and Road partner countries have become significant investment destinations for overseas expansion of Inner Mongolia-based enterprises.

In the future, the region will step up efforts to facilitate cross-border trade and improve its business environment to further contribute to the BRI, according to an official of the Development and Reform Commission of Inner Mongolia. (Edited by Hu Pingchao, Xie Weijia, hupingchao@xinhua.org)