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Rare-earth magnet comes to SZ
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Zhou Jianchuan
YANG YINGCHANG, a leading magnetism professor with Beijing University and member of the China Academy of Sciences, signed a pact to introduce and industrialize his achievements in Shenzhen, by setting up a joint venture, Beida Shuangji Hi-Tech Co Ltd.
Yang's achievement, the Nd-Fe-nitrogen rare-earth permanent magnet material developed under Programme 863, first gained national approval in 1996. But the discovery has not yet been industrialized, mainly because of its disconnection from venture capital, according to Jiang Yuxiang, director of the Administration of Development & Industrialization at Beijing University.
The China Hi-Tech Property Exchange, established only four months ago, helped Yang round up the venture capital.
Rare-earth permanent magnet material is a key substance with many industrial uses. In 2000, China produced less than 100 tonnes of advanced magnet materials, compared to nearly 4,000 tonnes of the more common variety.
Yang's Nd-Fe-nitrogen magnet material is a totally new development taking advantage of abundant rare earth resources in China, which is home to 80 per cent of the globe's rare earth metals.
The newly launched company is aiming at becoming a global-scale manufacturer of permanent magnet powder, magnets and relative parts in the world.
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