Baotou Rare Earth High-tech Industrial Development Zone will establish overseas innovation centers to attract more overseas projects and boost innovation, according to an announcement at a promotional event on Aug 8.

The innovation centers will be co-developed by the Baotou zone and Beijing Gongxin Yantuo Technology Transfer Co under an agreement already signed.

According to the agreement, the Beijing-based company will take advantage of Baotou city's rare earths, high-end equipment manufacturing and other advantageous resources and its preferential policy environment to integrate overseas innovation and entrepreneurship resources.

The Baotou Rare Earth High-Tech Industrial Development Zone was approved by the State Council in 1992. Among the 53 national hi-tech zones in the country, it is the only one dedicated to the rare earths industry and the only national level high-tech zone in Inner Mongolia autonomous region. 

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