On June 20, China announced the first white paper on rare earth to better protect its valuable resources.
The white paper entitled 'Situation and Policies of China's Rare Earth Industry' was published by the Information Office of the China State Council. The birth of the book aims to help the international community better understand the situation and policies of the country's rare earth industry.
China is a major supplier of rare earths in the world.(Source: Global Times)
'Some countries have expressed frustration about the situation of China's rare earth industry and related policies, so it has made many speculations and fabrications , " the book says.
Currently, China is the world's largest producer of rare earths, providing more than 90% of global rare earth metal demand, although its rare earth reserves account for only 23% of its rare earth reserves. world. Rare earth metals, which are one of 17 metals, are very important to produce many high-tech products, from smartphones and wind turbines to electric car batteries. But exploiting these metals is extremely damaging to the environment.
In order to control environmental damage and protect this non-renewable resource, China has implemented many policies, including policies to apply production caps, export quotas, strict emission standards. and higher resource taxes. However, these policies have caused complaints from major consumer countries such as Japan (which bought 56% of China's rare earth exports in 2011). China, despite affirming its continued supply of rare earth to the global market, still maintains a policy of regulating rare earth production.