Overview on China's Rare Earth Industry Restructuring and Regulation Reforms

Abstract

Abstract: Rare earth elements (REEs) that are key to new technologies and green innovations are critical to life in modern societies. China continues to dominate the global REEs market despite several international trade disputes and market fluctuations. Pressured by an increasingly difficult situation, the Chinese government has been carrying out industry restructuring and has introduced regulatory reforms in recent years to promote the healthy development of the rare earth industry. This paper reviews the literature on the development of the rare earth industry and analyzes the reform policies, combining this with an analysis of relevant macroeconomic data. It discusses the current status of China's rare earth industry, the progress of industrial restructuring and the main problems the rare earth industry faces. The paper discusses the evolution of rare earth policies from that of “open production and open supply” to that of “limiting low quality development but encouraging export of high quality rare e...