Main business: Baotou Steel is one of the key 156 projects during the first five-year plan period. It is an important iron and steel industrial base and the largest rare earth industrial base in China. It is the largest industrial enterprise in Inner Mongolia Autonomous Region, with two listed companies: "Baotou Steel" and "Rare Earth Hi-Tech". Baotou Steel 1954 set up a factory, and 1998 was transformed into a corporate enterprise. By the end of 2004, the total assets reached 3.51100 million yuan. Baiyunebo Mine of Baotou Steel is a world-famous multi-element raw ore such as iron and rare earth. Its rare earth reserves rank first in the world and niobium reserves rank second in the world. The unique resource advantages form the industrial advantages of Baotou Steel, which are mainly steel and rare earth. At present, the steel industry of Baotou Steel has formed two steelmaking systems, namely plate, pipe and rail, and four production lines, with an annual output of more than 8.5 million tons of steel. There are 63 kinds of steel products with specifications of 1970, including cold-rolled plates, hot-rolled plates, seamless steel pipes, heavy rails, large profiles and high-speed wire rods. It is one of the three major rail production bases in China, and it is also a seamless steel pipe production base with relatively complete varieties and specifications. The rare earth industry has an annual output of 654.38 million tons of rare earth concentrate and more than 55,000 tons of rare earth products. The main products include 155 rare earth concentrate, rare earth compounds and rare earth metals, NdFeB permanent magnets, rare earth polishing powder, hydrogen storage powder and other 53 varieties. It is the largest R&D base of rare earth production and an important information center of rare earth in China, with the production capacity of functional materials such as NdFeB, anode powder and polishing powder.