Economy
22:43, 04-Jun-2019
Experts call for quality growth, rigid export controls for rare earth sector
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China's rare earth specialists at a symposium held by the country's state planner proposed spurring quality growth and more rigid export control for the rare earth sector, in a fresh push to fully capitalize on the values of the elements on Tuesday.
The National Development and Reform Commission (NDRC) convened the meeting in response to Chinese President Xi Jinping's call for green and sustainable development of the industry.
The participants talked about rare earths's role as an indispensable strategic resource for modern industry. It's also a building block for transforming traditional industries and developing emerging industries.
Experts acknowledged what the rare earth industry has achieved in recent years, ranging from intensive, high-end development and enhanced innovation capacity to green and smart industrial transformation, but they pointed out that the issues of applied technology, environmental protection and underdeveloped rare earth value have yet to be ironed out.
They also agreed it's a non-renewable, scarce resource that entails all-round supervision and rigid export controls by the government.