Rare earth industry forum held in N China's Baotou city

The 13th Baotou China International Forum was held on Dec 20 in Baotou city – located in North China's Inner Mongolia autonomous region – analyzing development trends in the rare earth sector, as well as planning its future direction, according to local media reports.

The one-day event invited government officials, academicians, industrial leaders and experts. It set up five sub-forums, focusing on areas including the rare earth market and applications, new energy vehicles, the rare earth industry economy and technological innovation.

Baotou city, China's leading supplier of rare earth materials, has long been committed to developing its rare earth industry. It has hosted the rare earth forum every year since 2009, boosting its image throughout the industry.

From January to November, Baotou's rare earth industry achieved an output value of 35.5 billion yuan ($5.57 billion), an increase of 70 percent year-on-year, the highest growth rate for the period in the past decade.

In 2021, there were 42 key rare earth projects under construction in Baotou, with a total investment of 12.9 billion yuan.

Currently, six of the top 10 domestic rare earth magnetic materials producers have settled in Baotou.

Under the city's plans, by 2025 Baotou will have cultivated 20 enterprises with an output value of more than 1 billion yuan each and five companies with an output value of more than 5 billion yuan each, as well as 10 listed companies and 100 high-tech enterprises.