Ministry of Industry and Information promotes the introduction of rare metal regulations

China's rare earth and other raw material export measures dispute case lost in the WTO. It is reported that in order to respond to changes in the export situation of rare earths next year, in the next stage, the Ministry of Industry and Information Technology will revise and improve relevant policies and regulations and management measures in a timely manner.

Specifically: promote the early administration of rare metals management regulations; revise and improve rare earth directives and management methods for rare earths; establish traceability systems for rare earth products; implement classified management of light and heavy rare earths, and crack down on production of illegal and irregular rare earths; meanwhile, continue to adjust and increase lightness accordingly. Rare Earth Indicators; Raise Resource Taxes for Southern Ionic Rare Earths.

According to data from the China Nonferrous Metals Association, due to the lack of global economic growth impetus and the deceleration of domestic economic growth, a variety of factors have caused the demand for rare earth products to decline. The decline in prices has led to a decline in corporate profits and difficulties in production and operation. From January to August, 190 large-scale rare earth mines and smelting enterprises across the country realized a profit of 2.5 billion yuan, a year-on-year decrease of 24.6%; and the export volume of rare earth products was 1 billion US dollars, a year-on-year decrease of 0.7%. At the same time, the production of illegal and non-compliance products showed signs of reversal; these unstable factors have made the development of rare earth industries facing new and severe challenges.