LINE

    Text:AAAPrint
    Economy

    Rare-earth exports fall 16% in May

    1
    2019-06-11 08:21:08China Daily Editor : Li Yan ECNS App Download

    A rare earth mine in Xichang, Sichuan Province. (Photo provided to China Daily)

    China, the world's largest producer of rare earths, saw a 16 percent monthly drop in those exports in May amid an increased focus on domestic resources conservation and high-quality development of commodities, officials and experts said.

    Rare-earth exports by China fell to 3,640 metric tons in May from 4,329 tons in April, according to the General Administration of Customs. In the first five months, China exported 19,266.8 tons of rare earths, down 7.2 percent year-on-year.

    "The drop of China's rare-earth exports is the result of domestic resource conservation and environmental protection, and it is in line with the country's need for promoting high-quality development," said Cui Fan, a professor at the University of International Business and Economics.

    Cui said escalating trade tensions between China and the United States have also exerted a negative impact on global supply chains, especially in commodity goods such as crude oil, soybeans and rare earths.

    "Many markets' heavy dependence on Chinese supply has exhausted mines at home and caused environmental impacts. It is time for them to increase supplies from other producers such as Russia, Greenland and certain African nations to meet their demand," Cui added.

    Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said China has developed advanced separation and purification methods for rare-earth elements with high efficiency and low cost.

    "To better exploit strategic rare-earth resources, China needs to continuously focus on adding value by making technologically advanced products rather than simply exporting the raw materials," Mei added. "China needs to consolidate its leading role in advanced separation and purification methods. What's more, China also needs to accelerate the push for developing intensive rare-earth processing."

    Rare earths, a group of 17 elements, is used in production in a huge number of sectors, ranging from high-tech consumer electronics to military equipment.

    China produces around 80 percent of the world's supply of rare earths. However, the country's rare-earth industry faces problems such as smuggling, illegal mining and production, lack of innovation and environmental protection issues.

    "The government continues to regulate the rare-earth industry by setting up environmental standards to make exploration and refining processes cleaner," said Zhu Yi, a senior metals and mining analyst at Bloomberg Intelligence. "This also complies with the government's decision to reduce pollution in the metal industry."

    China launched a strict environmental protection policy in 2013 and tied emission reductions to local governments' performance measurements, Zhu said. Producers that cannot meet emission targets are forced to shut down or upgrade production lines.

    The National Development and Reform Commission recently held three seminars with industry experts, key enterprises and local government officials to discuss the country's efforts to better utilize the rare-earth resources, improve industrial structure, protect resources and foster high-quality development in the sector.

    The NDRC said more efforts are needed to improve management of the rare-earth market, rectify market order, foster a better business environment, make breakthroughs in key technologies, crack down on violations of laws and regulations and promote a green, sustainable future.

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2019 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 通州区| 瑞安市| 绥中县| 肇源县| 栾川县| 休宁县| 酉阳| 喀什市| 秦皇岛市| 会宁县| 滨州市| 新营市| 新昌县| 九江市| 鲁山县| 淅川县| 红原县| 永仁县| 科技| 皮山县| 江川县| 江口县| 天等县| 宜阳县| 台南县| 茶陵县| 平谷区| 象州县| 太和县| 安泽县| 比如县| 兰西县| 社会| 陆河县| 库车县| 望奎县| 汤阴县| 邵阳市| 桑日县| 吴桥县| 宿州市|