Chinese Premier Li Qiang has signed a decree of the State Council on Saturday, introducing a comprehensive set of regulations on rare earth administration that will take effect on October 1.
Rare earths, comprising 17 elements, are scarce in large quantities and are critical components in a wide range of high-tech products, including flat-screen TVs, lasers, and hybrid cars.
The newly implemented regulations aim to promote the high-quality development of the rare earth industry by encouraging the research, development, and application of new technologies, materials, and equipment. This initiative seeks to balance resource protection with the development and utilization of rare earth elements through strategic planning.
Additionally, the regulations emphasize ensuring resource security and boosting technological innovation alongside green development practices. To maintain the integrity of the industry, the regulations also outline strict punishments for illegal activities related to rare earth mining, smelting, extraction, product distribution, and unlawful imports and exports.
Reference(s):
China issues rare earth administration regulations effective October 1
cgtn.com
