China seeks to improve managing rare-earths industry

China, the world's biggest producer of rare-earths metals, will enact new measures to better exploit its rare-earth resources, and rectify market order and the management of the market, the country's top economic planner said on Tuesday.

The National Development and Reform Commission (NDRC) held an expert symposium on Tuesday, saying the country will increase efforts to improve the industrial structure, protect the resources and raise the scientific and technological levels of rare-earth exploitation.

Experts attending the seminar said rare earths are an important strategic resource for modern industry as well as a key basic material for transforming traditional industries and developing emerging sectors.

China produces around 80 percent of the world's rare earths. However, the country's rare-earths industry is faced with problems such as smuggling and illegal mining and environmental protection issues.

Against that backdrop, more efforts are needed to strengthen the supervision over the rare-earths industry, severely crack down on violations of laws or regulations, cut off the dark chain, tighten exports controls, establish a review mechanism that keep track of whole processes of rare earth exports, experts noted.

NDRC said last week the country is willing to continue supplying rare-earth metals to global markets but is opposed to those who use products made with rare earths to "suppress and dampen China's development."