At the second session of the 16th Baotou Municipal People's Congress from Jan 2 to 4, Baotou's 2023 government work report proposed that the city should adjust and optimize its industrial structure as well as extend industrial chains and strengthen key industries such as steel, rare earth, silicon and wind power.

In 2023, the city will implement 201 strategic emerging industry projects with a total investment of 345.5 billion yuan ($50.99 billion), striving to create a national high-quality manufacturing development demonstration zone.

As a leading enterprise in the steel and rare earth industry, Baogang Group, based in the city, achieved a revenue of 120 billion yuan in 2022 and paid taxes of 9.56 billion yuan, making a sizable contribution to local economic development.

"In 2023, Baogang will continue to become more competitive, make efforts to transform and upgrade the traditional steel industry, and strive to become a world-class enterprise in the next five years," said Wei Shuanshi, deputy to the municipal people's congress and chairman of Baogang Group.

Additionally, at the session, Darhan Muminggan Joint Banner planned to introduce crystalline silicon smelting, moisturizing materials and other projects in the banner, as well as cultivate new industrial clusters.