Hohhot in North China's Inner Mongolia autonomous region hosted an investment promotion event in Beijing on Saturday, with the aim of attracting more projects to Hohhot, according to local media reports.

More than 400 people from the All-China Federation of Industry and Commerce, Beijing Federation of Industry and Commerce, large State-owned enterprises, and top 500 national private enterprises participated in the event.

He Haidong, mayor of Hohhot, addressed the event, giving a brief introduction to the history and culture, location advantages, resource elements and industrial characteristics of Hohhot.

As the capital city of Inner Mongolia, Hohhot is an important hub city of the Belt and Road Initiative and of the China-Mongolia-Russia Economic Corridor.

Hohhot has been designated as a central city of the Hohhot-Baotou-Ordos-Yulin urban agglomeration approved by the State Council.

It actively leads the "1-hour economic circle" of Hohhot-Baotou-Ordos-Wuhai.

With the opening of the Beijing-Hohhot high-speed railway, the city also has entered the "2-hour economic circle" of the Beijing-Tianjin-Hebei region.

Hohhot is currently forming a dominant industry cluster with the dairy industry, big data cloud computing, photovoltaic materials and biomedicine as its mainstays.

The event saw contracts signed by Hohhot and 54 companies for 47 projects, with an intended investment of 74.51 billion yuan ($11.37 billion).