China to Invest Up to 450M Yuan in REE Industry
Source: CapitalVue (8/9/10)
"China to establish a 300M–450M yuan fund to promote R&D. . ."
According to Gan Yong, a member of the Chinese Academy of Engineering, China will focus on the industrialization of rare earth functional materials during the 12th Five-Year Plan period.
China's exports of rare earth oxides accounts for more than 90% of the world's total. It has almost half of the world's reserves of rare earth.
Shares of Inner Mongolia Baotou Steel Rare-Earth Hi-Tech (600111) were up 0.56% to close at 44.85 yuan today.