The cutthroat competition has resulted in Chinese rare earths selling at "dirt" prices

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 in allocating resources.Of course, the government also needs to play a good role in maintaining market order. We need to rein in what should be done and rein in what should be done.

Xiao Yaqing said that China is a major country with the largest amount of rare earth resources and the largest export.First of all, there is a phenomenon that deserves our attention. Instead of selling rare earths at "rare" prices, we have sold them at "earth" prices. It is because of vicious competition and competitive undercutting that this precious resource has been wasted.Second, I have the opportunity to take a look at our rare earth production enterprise. It is true that there are many environmental problems, and the local people feel very strongly about them.Because the market for rare earths is good, efforts have been made to mine, dig and smelt rare earths, and there have been many reactions on environmental protection.Third, rare earth why, because it is a rare resources, now disordered mining, waste of resources, some only in the most affluent, Chinese name is "dig cabbage heart", the best gather, poor efficiency of comprehensive utilization of resources, in the long run, with a few years gone, comprehensive utilization of resources will have a problem.Fourth, there are many low-level reproductions of rare earth products, while there are few high-level rare earth products. This is not conducive to technological innovation and progress.Therefore, we should learn from the Japanese enterprises in this respect. Many Japanese enterprises have done a lot of work in the high-end of rare earth.

Xiao Yaqing finally said that the Ministry of Industry and Information Technology, as a competent department of the industry, the key is to perform their duties well and do their own things well. Economic globalization is a big trend, in the process, in the sometimes-complex mix-and-match, I have you, need everyone to join hands to jointly cope with in the process of economic development, in the process of market development in all aspects of the resources, energy, product demand, I think this is mainly aimed at some problems of our current, promote further, healthy and sustainable development.