Farming of crops such as wheat takes precedence along the river valleys. In the more arid grasslands, herding of goats, sheep and so on is a traditional method of subsistence. Forestry and hunting are somewhat important in the Greater Khingan ranges in the east. Reindeer herding is carried out by Evenks in the Evenk Autonomous Banner. More recently, growing grapes and winemaking have become an economic factor in the Wuhai area.
Theater in Hohhot
Inner Mongolia has an abundance of resources especially coal, cashmere, natural gas, rare-earth elements, and has more deposits of naturally occurring niobium, zirconium and beryllium than any other province-level region in China. However, in the past, the exploitation and utilisation of resources were rather inefficient, which resulted in poor returns from rich resources. Inner Mongolia is also an important coal production base, with more than a quarter of the world's coal reserves located in the province. It plans to double annual coal output by 2010 (from the 2005 volume of 260 million tons) to 500 million tons of coal a year.
Inner Mongolia Gymnasium
Industry in Inner Mongolia has grown up mainly around coal, power generation, forestry-related industries, and related industries. Inner Mongolia now encourages six competitive industries: energy, chemicals, metallurgy, equipment manufacturing, processing of farm (including dairy) produce, and high technology. Well-known Inner Mongolian enterprises include companies such as ERDOS, Yili, and Mengniu.
The nominal GDP of Inner Mongolia in 2015 was 1.8 trillion yuan (US$272.1 billion), with an average annual increase of 10% from the period 2010-2015. Its per capita GDP reached US$11,500 in 2015, ranking No.4th among all the 31 provinces of China, only after Shanghai, Beijing and Tianjin.
As with much of China, economic growth has led to a boom in construction, including new commercial development and large apartment complexes.
In addition to its large reserves of natural resources, Inner Mongolia also has the largest usable wind power capacity in China thanks to strong winds which develop in the province's grasslands. Some private companies have set up wind parks in parts of Inner Mongolia such as Bailingmiao, Hutengliang and Zhouzi.