Baotou Rare Earth High-Tech Industrial Development Zone in Baotou, North China's Inner Mongolia autonomous region, has been attracting more and more outstanding projects due to its increasingly optimized business environment and constantly improving investment promotion methods.
In the first eight months of this year, the zone signed 59 projects worth about 85.73 billion yuan ($13.43 billion), with the number and value of contracts signed in the rare earth and vehicle and parts manufacturing industries both setting new records.
Baotou is a city rich in natural resources, with 74 kinds of minerals discovered in the city so far, including rare earth resources.
It is also rich in renewable resources such as wind and light, with wind power capable of being used for more than 3,000 hours a year and solar power d for more than 300 days a year.
These abundant resources have brought great advantages in terms of attracting investment to the high-tech zone.
To date, construction has started on a total of 34 projects in the high-tech zone, including two financial credit projects with a total investment of 11.70 billion yuan.
The zone has a total of 94 planned key investment projects, with planned investment totaling more than 64 billion yuan. These include 40 projects worth over 50 million yuan each.
Rare earth industry projects account for 25.8 percent of the total, non-ferrous metal deep processing industry projects account for 13.9 percent, vehicle and parts manufacturing industry projects account for 27.8 percent, and hydrogen energy industry projects account for 9 percent.
The zone has also been improving its business environment. It has established a partnership with urban operation enterprise China Jinmao Shanghai, which will help cooperation between its partners and Baotou Rare Earth High-Tech Industrial Development Zone.
In addition, the zone has launched a raft of measures to cultivate and introduce talent by focusing on project funds, awards, and more.