The 20th World Brand Congress was held recently in Beijing. At the congress, the World Brand Lab released an analysis report of China's 500 Most Valuable Brands in 2023.

Baogang Group in Baotou city, North China's Inner Mongolia autonomous region, ranked 199th with a brand value of 45.17 billion yuan ($6.33 billion).

World Brand Lab, founded in New York in 2003, is the world's leading independent brand evaluation and marketing strategy consulting agency.

Since 2004, it has regularly compiled the China Brands Report and published the list of China's 500 most valuable brands. Over the past 20 years, the entry threshold for the list has been raised from the original 500 million yuan to 3.53 billion yuan.

Baogang Group has been a pioneer in supporting the construction of national key projects for many years. Its products have been applied to the construction of the Beijing-Shanghai High-speed Railway, Qinghai-Tibet Railway, Three Gorges Project, Beijing Daxing International Airport, China-Laos Railway, China-Russia East Route, and other key projects, as well as having been exported to more than 60 countries and regions.

Baogang's rare earth steel has been widely recognised and praised worldwide for its good ductility, wear resistance, corrosion resistance, low temperature resistance and toughness. Its brand value has been continuously improved, and it has been awarded the honor of an iconic brand of Inner Mongolian industry, named among the Top 100 Brands of Inner Mongolia, and the Top 500 Brands of China.