The "Baotou Key Industry Fund Baotou Rare Earth High-Tech Industrial Development Zone Sub-fund" has been set up in the city of Baotou in North China's Inner Mongolia autonomous region, with the aim of effectively solving corporate funding problems, reports Baotou Daily.

The fund size is 1.5 billion yuan ($232 million).

The fund's project team and management agency have conducted a large number of interviews and investigations into selected key enterprises in the high-tech zone.

Eight enterprises that meet both the key industry fund investment catalog and the enterprise development policies of the high-tech zone have been selected, including the Technology Entrepreneurship Center of Baotou Rare Earth High-Tech Industrial Development Zone, and Baotou Jinshan Magnetic Materials Co.