China to Invest Up to 450M Yuan in REE Industry

Source:

"China to establish a 300M450M yuan fund to promote R&D. . ."

China will establish a 300M450M yuan fund to promote the research and development of the rare earth industry during the 12th Five-Year Plan period, according to foreign media reports.

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.

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