A total of 40 key projects were signed on Feb 8 at the opening ceremony of the Darhan Muminggan Joint Banner low-carbon headquarters economic park - located in the banner, administered by Baotou city in North China's Inner Mongolia autonomous region - and at a signing ceremony for 2022 key projects.

Leaders of the Baotou municipal government attend the opening ceremony of the Darhan Muminggan Joint Banner low-carbon headquarters economic park. [Photo/dmlhq.gov.cn]

Darhan Muminggan Joint Banner is understood to has studied its resources and advantages and has seized the opportunities presented by China's goal of carbon peak before 2030 and for carbon neutrality by 2060.

The opening of the park and the signing of the projects are widely seen as measures undertaken by the banner to optimize its business environment and for Baotou city to promote premium quality economic development.

It is understood that the 40 key projects involve a total investment of 50.1 billion yuan ($7.90 billion).

Among them are 10 new energy and new materials projects with an agreed investment of 28.35 billion yuan. There are also 22 rural revitalization projects that will cost 10.95 billion yuan, as well as economic construction projects at two land ports that will involve 9.8 billion yuan.

"As the country's leading hydrogen energy enterprise, we plan to invest 22.35 billion yuan to build an international hydrogen energy industry demonstration zone in the banner," said Bai Linbao, a senior executive at Shuimumingtuo Hydrogen Energy Technology Co.

Bai said the preliminary work for the project had been completed and construction was scheduled to start in April.

Moving forwards, plans are for the banner to make full use of its three chief advantages of resources, space and location. The aim is to create a first-class business ecosystem and improve its ability to attract investment.