The Eighth China Baotou International Rare Earth Industry Forum, under the theme of "Innovation and Coordinated Development of the Rare Earth Industry" was held in Baotou, Inner Mongolia, on Aug 8. The forum witnessed new developments in the rare earth industry, Baotou Daily reported on Aug 9.

Contracts worth 10 billion yuan in total are signed at the forum. [Photo/news.cn]

Some 31 projects worth 10 billion yuan ($1.5 billion) in total were signed at the forum, 7 billion yuan more than that of last year. The projects cover areas like rare earth permanent magnet, rare earth catalyzing and rare earth materials used in engines.

Initiators of Baotou Rare Earth Industry Alliance [Photo/news.cn]

The forum also saw the establishment of Baotou Rare Earth Industry Alliance, aiming to enhance communication between government and enterprises so as to promote rare earth production, trade and research.

Baotou, China's leading rare earth supplier, has long been committed to developing its rare earth industry with the Baotou Rare Earth Hi-Tech Zone serving as its base. The city welcomes global cooperation and seeks further advances in the rare earth industry, said Yu Yong, chairman of the Association of China Rare Earths Industry.