From July 15th to 16th this year, General Secretary Xi Jinping made an important speech when he visited Inner Mongolia, demanding to promote the high-quality development of the economy, focusing on the supply-side structural reforms to fill the shortcomings, and consolidating the "three to one, one reduction and one supplement" ( De-capacity, destocking, deleveraging, cost reduction, and short-boarding) results. "In order to implement the spirit of the General Secretary's instructions, Baotou Steel will continue to consolidate and deepen its achievements on the basis of turning losses into gains." Wei Shuan emphasized.

He said that today, Baotou Steel is advancing the strategic transformation with the focus on rare earths, and is striving to create a new material industry for rare earth steel and a new material industry for rare earth functions. First, we will do a good job of making rare earth steel new materials, taking the road of specialization, differentiation and high-end development, and building the world's largest rare earth steel new material industry base. As a typical representative of green steel, rare earth steel has excellent performances such as wear resistance, corrosion resistance, ductility and weather resistance, and has broad market prospects. In the future, Baotou Steel will vigorously develop rare earth steel products and form a rare earth steel fist product with global quality and technology leading, and its reputation and reputation will make the proportion of rare earth steel products reach over 70%. The second is to strengthen and expand the new rare earth functional new materials, promote the transformation of the rare earth industry from resource development to terminal applications, completely change the way of excavating and selling soil, and build the strongest and world-class rare earth new material industry base in China.

Wei Shuan also told the reporter of China Metallurgical News that the influence of Baosteel's rare earth steel brand is constantly improving. Since the beginning of this year, Baotou Steel has newly developed a number of well-known enterprise users of home appliance steel and automobile steel. Pipeline steel won the bid for Sinopec 2019 annual framework agreement and China Petroleum Technology Development Corporation Astana crude oil pipeline project, seamlessly managing oil in PetroChina. In the annual centralized procurement bidding for special-purpose pipes, the winning bids for all varieties were realized.