Authoritative sources revealed that the various parties’ estimation of the reduction in the export quota for rare earths issued by the Ministry of Commerce in 2011 was not accurate. The actual situation was due to the newly listed foreign companies in the first batch of rare earth quotas in 2011. In 2011, the first batch of rare earth export quotas followed. Year cannot be simply compared. If calculated according to the statistics of 2010, the first batch of quotas in 2011 will be half of the first quota in 2010. The total amount of export quotas of the Ministry of Commerce for the entire year of 2011 has not yet been finalized. In 2011, the second batch of export quotas will not necessarily be announced.
According to the practice of previous years, on the 28th of the year, the Ministry of Commerce issued the first batch of rare earth export quota of 14,446 tons in 2011, when the total amount of quotas was not determined. In 2010, the first batch of quotas was 16,304 tons. Some media speculated that the export quotas were down by 11.4% year-on-year. However, after the media pointed out that the first batch of rare earth quotas was newly included in the foreign-funded enterprises in 2011, it seems that the first batch of rare earth export quotas in 2011 decreased by 35% compared with the same period of last year.
“These estimates are not accurate. The first batch of rare earth export quotas in 2011 cannot be compared with the previous year. It is likely that the first batch of quotas in 2011 will be close to half of the first batch of the previous year.†The authority said.
According to the usual practice, the Ministry of Commerce usually publishes quotas for rare earth exports in the first half of the year in two batches. "The total amount of quotas for the whole year has not been finalized and there will not be a second batch of quotas announced," the source stressed.
The person in charge of the Ministry of Commerce said earlier that it is not appropriate for all parties to estimate the total amount for the whole year based on the number of export quotas issued this time. Regarding the total amount of rare earth export quotas for 2011, relevant departments are currently negotiating. China will take into consideration factors such as rare earth production, domestic and international demand, and the need for sustainable development. After the quota amount is determined, the Ministry of Commerce will release it in time.
China's relevant regulatory agencies have recently issued a series of rare earth product management policy measures to limit the over-exploitation of rare earth resources and protect the ecological environment. This shows that in 2011, the state's control over rare earth exports will be further strengthened. The Ministry of Finance issued a notice on December 15, raising the export tariffs on some rare earth products. In 2011, the temporary tax rate for the export of rare earth metals was 15%; the export tax rate for rare earth metals was increased from 15% to 25%.
Analysts pointed out that in 2011 China's rare earth export policy principles will be reflected in three aspects. The first is that the production volume will match the export volume and reserves in the future; the second is the need for international cooperation to strengthen rare earth mining and environmental protection; the third is to reduce the export of rare earths but also to take into account the effective market supply, and not to make the industry suffer too much.
Minister of Commerce Chen Deming said that China has 30% of the world's rare earth resources, but supplies more than 90% of the world's demand for rare earths. China's reason for reducing rare earth production is purely due to environmental issues. China's use of its own country when reducing production. Restrictions have also been made. Such an approach is in line with China’s commitment to participate in the WTO.
Foreign Ministry Spokeswoman Jiang Yu said on the 30th that in the future China will continue to supply rare earths to the international market and implement effective management of rare earth exports in accordance with WTO rules. With the development of the economy, the demand for rare earths in the international market is increasingly expanding, and ensuring the supply of rare earths is gradually becoming a common task faced by all countries in the world. Other countries that have rare earth resources should also actively develop and use rare earth resources to jointly assume the responsibility of global supply of rare earths. She pointed out that China is willing to strengthen cooperation with other countries in the search for alternative resources for the development of rare earths and improve the utilization of rare earth resources. Countries that have advanced environmental protection technologies are welcome to provide relevant technical support to China.
According to the practice of previous years, on the 28th of the year, the Ministry of Commerce issued the first batch of rare earth export quota of 14,446 tons in 2011, when the total amount of quotas was not determined. In 2010, the first batch of quotas was 16,304 tons. Some media speculated that the export quotas were down by 11.4% year-on-year. However, after the media pointed out that the first batch of rare earth quotas was newly included in the foreign-funded enterprises in 2011, it seems that the first batch of rare earth export quotas in 2011 decreased by 35% compared with the same period of last year.
“These estimates are not accurate. The first batch of rare earth export quotas in 2011 cannot be compared with the previous year. It is likely that the first batch of quotas in 2011 will be close to half of the first batch of the previous year.†The authority said.
According to the usual practice, the Ministry of Commerce usually publishes quotas for rare earth exports in the first half of the year in two batches. "The total amount of quotas for the whole year has not been finalized and there will not be a second batch of quotas announced," the source stressed.
The person in charge of the Ministry of Commerce said earlier that it is not appropriate for all parties to estimate the total amount for the whole year based on the number of export quotas issued this time. Regarding the total amount of rare earth export quotas for 2011, relevant departments are currently negotiating. China will take into consideration factors such as rare earth production, domestic and international demand, and the need for sustainable development. After the quota amount is determined, the Ministry of Commerce will release it in time.
China's relevant regulatory agencies have recently issued a series of rare earth product management policy measures to limit the over-exploitation of rare earth resources and protect the ecological environment. This shows that in 2011, the state's control over rare earth exports will be further strengthened. The Ministry of Finance issued a notice on December 15, raising the export tariffs on some rare earth products. In 2011, the temporary tax rate for the export of rare earth metals was 15%; the export tax rate for rare earth metals was increased from 15% to 25%.
Analysts pointed out that in 2011 China's rare earth export policy principles will be reflected in three aspects. The first is that the production volume will match the export volume and reserves in the future; the second is the need for international cooperation to strengthen rare earth mining and environmental protection; the third is to reduce the export of rare earths but also to take into account the effective market supply, and not to make the industry suffer too much.
Minister of Commerce Chen Deming said that China has 30% of the world's rare earth resources, but supplies more than 90% of the world's demand for rare earths. China's reason for reducing rare earth production is purely due to environmental issues. China's use of its own country when reducing production. Restrictions have also been made. Such an approach is in line with China’s commitment to participate in the WTO.
Foreign Ministry Spokeswoman Jiang Yu said on the 30th that in the future China will continue to supply rare earths to the international market and implement effective management of rare earth exports in accordance with WTO rules. With the development of the economy, the demand for rare earths in the international market is increasingly expanding, and ensuring the supply of rare earths is gradually becoming a common task faced by all countries in the world. Other countries that have rare earth resources should also actively develop and use rare earth resources to jointly assume the responsibility of global supply of rare earths. She pointed out that China is willing to strengthen cooperation with other countries in the search for alternative resources for the development of rare earths and improve the utilization of rare earth resources. Countries that have advanced environmental protection technologies are welcome to provide relevant technical support to China.
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