Status of China's Rare Earth Industry

Reform of China Rare Earth Industry

China continuously pushes forward the reform of the rare earth industry, and promotes the formation of the rare earth market system investment subject pluralism, independent decision-making, and the price is determined by supply and demand. In recent years, China's rare earth industry investment gets rapid growth, the market is expanding, state-owned, private, foreign and other economic elements coexist, and rare earth market size is close to one hundred billion RMB. Market order is gradually improving, corporate mergers and reorganizations between progressive, "small, scattered, chaotic" situation initially changes in the rare earth industry. The level of science and technology is to further improve. After years of development, China has established a relatively complete system of R & D in the field of rare earth mining, smelting and separation, and the rare earth manufacturer has developed a number of international advanced level of technology, the mining process is unique and advanced separation technology for the development and utilization of rare earth resources laid a solid foundation. Rare earth new materials industries have been developing steadily, rare earth permanent magnet materials, luminescent materials, hydrogen storage materials, catalytic materials, and the new materials industry, provides support to transform and upgrade traditional industries and develop strategic emerging industries.



Rapid Development of China Rare Earths Industry

The rapid development of China's rare earth industry not only meets the needs of the domestic economic and social development, but also makes important contributions to the world's rare earth supply. Over the years, China has earnestly fulfilled the commitment to join the World Trade Organization, to comply with WTO rules, promote fair trade in rare earth. Currently, China, a country with 23% of rare earth resources bears more than 90% of the world market supply, and especially the cerium oxide manufacturer has made a great contribution. Chinese production of rare earth permanent magnet materials, luminescent materials, hydrogen storage materials, and polishing materials account for more than 70% of world production. The end products of China's rare earth materials, devices, and energy-saving lamps, micro motor, nickel-metal hydride batteries meet the needs of the world, especially the development of high-tech industry for many developed countries.



Problem of Chinese Rare Earth Mining Industry

During rapid development, China's rare earth industry also has many problems. As per the outstanding problems in the development of rare earth industry, the Chinese government further increases the supervision of rare earth industry. In May 2011, the State Council study and formulate and modify the improvement and enhancement of the relevant laws and regulations of the management of the rare earth industry. The Chinese government set up a rare inter-ministerial coordination mechanisms, research co-ordination of national rare earth development strategies, programs, plans and policies on major issues; establishment of rare earth office, coordinate the submission of rare earth mining, production, reserves, and export plans. In April 2012, the government approved the establishment of the China Rare Earth Industry Association.



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