North China's Inner Mongolia autonomous region is set to launch an investment promotion series targeting the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in Shenzhen city, South China's Guangdong province, on Oct 20.

Hou Yanhui, deputy director of the region's commerce department, said Inner Mongolia plans to collaborate with enterprises in the GBA in developing the energy and digital economies, modern agriculture and animal husbandry, and modern service industries.

Both regions will work together in building a diversified industrial development pattern, creating an open cooperative platform, and promoting economic and trade cooperation.

Hou said the GBA is at the forefront of China's economic reform and opening-up, and is one of the most dynamic regions in the country in terms of economic development.

Inner Mongolia, on the other hand, is a crucial base for the country's energy, strategic resources, agriculture, and livestock production; and a vital stronghold for the country's northward opening-up.

The distinct industrial features and local advantages of both regions present tremendous potential for reciprocal benefits.

Hou noted that Inner Mongolia will continue to optimize its business environment, deepen reforms on streamlining administration, delegating power, improving regulations, and upgrading services; as well as build a first-rate business environment that is market-oriented, rule-of-law-based, and international.

Priority will be given to key industrial projects in resource allocation for land use and energy. Comprehensive support in electricity, transportation, communication, water supply, heating, and gas supply will be provided to meet the investment and development needs of enterprises.

Inner Mongolia has previously held two major events in Beijing and Zhejiang to draw investment and sign project agreements, targeting the Beijing-Tianjin-Hebei and Yangtze River Delta regions.

During these two sessions, 188 projects were signed, with a cumulative agreed investment of 519.1 billion yuan ($71.11 billion).

From January to August, 3,172 projects each with an investment of 5 million yuan or more were implemented in Inner Mongolia, showing a year-on-year growth of 56.4 percent. Furthermore, domestic capital in place reached 287.04 billion yuan, up 44.9 percent from 2022.