The first batch of 60 companies have settled in the Low-Carbon Headquarters Economic Park, situated in Darhan Muminggan Joint Banner, administered by Baotou city, in North China's Inner Mongolia autonomous region, with a welcoming ceremony held on Feb 8, according to local media.

A total of 40 projects with a total investment of 50.1 billion yuan ($7.89 billion) were officially signed up at the ceremony.

The economic park covers an area of some 10,000 square meters and focuses on new energy, new materials, cultural tourism, agriculture and animal husbandry and the digital economy, as well as other fields.

Moving forwards, Darhan Muminggan Joint Banner will focus on creating the best possible environment to further expand its energy industry and high-tech industry, in conjunction with the development of the Hohhot-Baotou-Ordos-Yulin city cluster.