Hondlon district’s e-commerce building achieved an online transaction volume of 360 million yuan ($56 million) in the first four months of 2018, according to a May 27 Baotou Daily report.

The building, a national e-commerce demonstration base, was developed by Hondlon district with an investment of 1 billion yuan.

The building, in Hondlon’s Caifu Center, will focus on developing e-commerce support systems and serving as an innovation and entrepreneurship training base for Baotou and the rest of Inner Mongolia autonomous region.

The project was approved as a national e-commerce demonstration base in March 2015 and is expected to be completed by 2020. Upon completion, e-commerce transaction volume will reach 60 billion yuan while online retail sales will reach 10 billion yuan, with employment opportunities for 50,000 people.

So far, 45 e-commerce companies and more than 70 B2B, B2C, O2O, P2P and PC-side and mobile-end digital lifestyle platforms have been launched through the building.