Information on the upcoming 13th Baotou China International Forum on the Rare Earth Industry is released during a press conference held on Dec 12 in Hohhot, Inner Mongolia. [Photo/northnews.cn]

The 13th Baotou China International Forum is set to open in Baotou, North China's Inner Mongolia autonomous region on Dec 20, during which several announcements will be made on policy and industry and a number of new projects will be signed into effect.

Baotou, China's leading supplier of rare earth materials, has long been committed to developing its rare earth industry, with Baotou Rare Earth High-Tech Industrial Development Zone serving as its base.

The city has successfully hosted the forum every year since 2009, boosting its image throughout the industry.

The Baotou Rare Earth High-Tech Industrial Development Zone [Photo provided to chinadaily.com.cn]

Rare earth projects involve heavy use of advanced technology and have strong development potential and strong influence on markets.

Baotou plans to further optimize the structure of its rare earth industry and extend the industrial chain further downstream, injecting new impetus into the high-quality development of the sector during the 14th Five-Year Plan period (2021-25).

According to the city's plan, by 2025, Baotou will strive to cultivate 20 enterprises with an output value of more than 1 billion yuan ($157 million) and five enterprises with an output value of more than 5 billion yuan, as well as 10 listed companies and 100 high-tech enterprises.

The city will strive to boost the output value of the rare earth industry to 100 billion yuan, which would mean an average annual growth rate of more than 30 percent, and increase the proportion of the output value of new rare earth materials and applications to more than 60 percent.

The Baotou Research Institute of Rare Earth in Baotou, Inner Mongolia [Photo/Inner Mongolia Daily]