North China's Inner Mongolia autonomous region recently issued 120 policies to promote high-quality industrial development.

These policies involve five parts: promoting the high-quality and efficient transformation of its agriculture and animal husbandry industries; promoting industrial adjustment, optimization and upgrading; improving the quality and efficiency of its service industry; strengthening factor support; and optimizing development processes.

Jiao Bingzhi, the second-level inspector of the Development and Reform Commission of the Inner Mongolia Autonomous Region, stated that the 120 newly-launched policies were revised based on their previous 2022 policies. These new policies will accelerate the region's high-quality development, while maintaining continuity and authority.

The new policies have eliminated policy tasks that were completed in 2022, and have arranged deployment in accordance with the Central Economic Work Conference, the Inner Mongolia Autonomous Region Economic Work Conference, and the Inner Mongolia's government work report.

Additionally, Jiao stated that Inner Mongolia will issue more than 20 billion yuan ($2.99 billion) in subsidies to restore the consumer market, boost investment confidence, as well as expand employment opportunities.