Industry forum set to open in Baotou, highlighting rare earth sector

Rare earth projects involve heavy use of advanced technology and have strong development potential and strong influence on markets.

Baotou plans to further optimize the structure of its rare earth industry and extend the industrial chain further downstream, injecting new impetus into the high-quality development of the sector during the 14th Five-Year Plan period (2021-25).

According to the city's plan, by 2025, Baotou will strive to cultivate 20 enterprises with an output value of more than 1 billion yuan ($157 million) and five enterprises with an output value of more than 5 billion yuan, as well as 10 listed companies and 100 high-tech enterprises.

The city will strive to boost the output value of the rare earth industry to 100 billion yuan, which would mean an average annual growth rate of more than 30 percent, and increase the proportion of the output value of new rare earth materials and applications to more than 60 percent.