At 10:00 a.m. on March 1, 2021, the State Council Information Office held a press conference, at which Xiao Yaqing, Minister of the Ministry of Industry and Information Technology, answered questions from the media on the draft of the Regulations on the Administration of Rare Earth (Draft for Comment) drafted by the Ministry of Industry and Information Technology (hereinafter referred to as the "Regulations on the Administration"). In January, the Ministry of Industry and Information Technology (MIIT) released a draft regulation on rare earth management.Xiao Yaqing, minister of industry and information technology, said at the press conference that rare earths are strategic resources.The promulgation of this regulation is mainly based on the strategy and market demand for the long-term development of rare earths, as well as the problems existing in China's actual development.The purpose of this regulation is to let the market play a decisive role i
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