Baotao records rare earth trade growth

Between January and November, Baotou Rare Earth Products Exchange (REPE) realized a transaction volume of 93.93 billion yuan ($13.71 billion), representing year-on-year growth of 168.21 percent, according to northnews.cn.

REPE was set up in Baotou 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, with the number of settlement banks growing to four.

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