Baogang Group – located in Baotou, North China's Inner Mongolia autonomous region – has made rare earth steel a strategic brand for enterprise development and started to research and develop related products.

During the Beijing 2022 Winter Olympics, an American Bloomberg reporter in Tokyo posted two tweets calling the Beijing-Zhangjiakou high-speed train that he took amazing, which received many likes. In fact, 99 percent of the rail used for the high-speed railway, which supports speeds of up to 350 kilometers per hour, are rare earth steel from Baogang Group.

Rare earth steel is ductile, wear resistant, corrosion resistant, and low-temperature impact resistant, among other things. Its output is increasing at an annual rate of 30 percent, and related products have won the National Science and Technology Progress Award many times.

Baogang Group currently produces 61 varieties of rare earth steel, and its brand value has reached 20.84 billion yuan ($3.09 billion). The group has obtained 14 authorized invention patents and five utility model patents for rare earth steel.

In addition, rare earth steel has been widely used in the China-Laos Railway, the China-Russia East Line Natural Gas Transmission Pipeline, Egypt's Suez Canal Port Said, and the German Volkswagen Manufacturing Plant.

The group's more than 10 million metric tons of rare earth steel is exported to 68 countries and regions, including 58 countries involved in the Belt and Road Initiative.

Moving forwards, Baogang Group will promote the transformation of rare earth steel from technological advantages to industrial and economic advantages and continue to prioritize the environment and sustainable development.