REPE handles transactions worth 80b yuan

From January to October, Baotou Rare Earth Products Exchange (REPE) realized a transaction volume of 80.36 billion yuan ($11.52 billion), representing year-on-year growth of 158.24 percent, reports Baotou Evening News.

Baotou Rare Earth Products Exchange was set up in the city to further promote the sales and trade of rare earth products with the approval of the People’s Government of Inner Mongolia autonomous region in May 2011. It opened in March 2014 and is the only e-commerce platform in China where individuals can trade rare earth products.

It can provide trading, settlement, quality inspection, financing, and big data services.

So far, REPE’s spot transaction platform has launched 14 kinds of rare earth oxides, and the number of settlement banks has reached four.

In 2017, REPE realized a transaction volume of 37.86 billion yuan and a trading volume of 77,600 tons.

Baotou Rare Earth Products Exchange [Photo/repe.com]