In recent years, Baotou has actively built a "3+5+N" key industrial cluster, with production values of rare earth, crystalline silicon, steel, and aluminum each exceeding 100 billion yuan ($13.96 billion). The city's investment in scientific and technological innovation has been among the highest in the Inner Mongolia autonomous region.

In 2024, Baotou took the lead in implementing all 14 rare earth projects in the autonomous region and built 14 demonstration lines, including China's first set of "special materials for rare earth modified biodegradable materials".

The implementation of these projects has resulted in a large number of application products with independent intellectual property rights in rare earth permanent magnets, hydrogen storage, polishing, additives, and alloys. Products such as electroacoustic magnetic materials and magnetic components have a market share of over 50 percent.

Baotou Changan Permanent Magnet Machine Co and Hongyuan Energy Technology (Baotou) Co were rated as national high-tech enterprises, and four enterprises, including Baotou Andexi Nai New Materials Co, were included in the national record of technology-based small and medium-sized enterprises.

A total of 1,245 talents have been introduced to the city's rare earth field since last year, including 128 with a master's degree or above. The city has established a hierarchical cultivation system, comprising 964 potential technology-based enterprises, which accurately introduces expert technology to achieve rapid growth. The total number of technology-leading enterprises, high-tech enterprises, and technology-based small and medium-sized enterprises in the rare earth field has reached 157, up 60 from the previous year, with a growth rate of 61.9 percent.

Today's Baotou is promoting the integration of technological and industrial innovation, accelerating the construction of a modern industrial system with diversified development, and generating more new quality productive forces.