Baotou city, known as the World Rare Earth City, is home to 209 rare earth enterprises, 85 large-scale industrial enterprises, and 70 national high-tech enterprises. These numbers have increased by 30, 22, and 20, respectively, since 2022. One enterprise has achieved national champion status, marking a breakthrough in Baotou's rare earth sector.

Baotou hosts China North Rare Earth (Group) High-tech Co, the world's largest rare earth producer, and Baotou Tianjiao Qingmei Rare Earth Polishing Powder Co, the world's largest polishing powder manufacturer. Seven of China's top 10 comprehensive magnet material companies have established operations in Baotou, with eight rare earth enterprises entering the pre-listing stage. The city has improved the local conversion rate of smelting and separation products from 80 percent to 88 percent, forming a complete industrial chain from mining to end-use applications.

The city is focused on building two national rare earth bases by using its status as a major strategic resource hub. The Wolong Permanent Magnet Motor Industrial Park in the city is a prime example of this, with a plan to produce 50,000 new energy vehicle motors, 30,000 low-speed high-torque motors, and 1,300 direct-drive wind turbines by the end of 2024. Other projects are also accelerating progress, such as the Inst Rare Magnet Industrial Park and Tianjiao Qingmei's polishing fluid production.

Baogang Group has been at the forefront of this development, advancing green smelting and refining since 2019. It has established a 20,000-metric-ton green smelting production line and developed high-value products that utilize light rare earth elements, such as lanthanum and cerium, widely used in polishing powders, coatings, and catalysts. These products have significantly increased market value, contributing to the city's economic growth.

Baotou, which possesses the world's largest rare earth reserves and smelting capacity, continues strengthening its industry with protective development, high-quality utilization, and green transformation. The Northern Rare Earth Green Smelting Upgrade Project is a landmark investment that implements advanced extraction and waste management technologies. Upon completion, it will handle 11.5 million tons of rare earth ore annually.

As Baotou aims to establish itself as the nation's largest rare earth materials base, it plans to expand its new materials output to 250,000 tons by the end of 2024. The city is also advancing high-end applications like permanent magnet motors, rare earth alloys, and hydrogen storage devices, targeting an output of over 100 billion yuan ($14.19 billion) in 2024.

Baotou is committed to fostering innovation and executing breakthrough initiatives to transform its rare earth resources into a world-class industry.