皇冠体育app

Economy

皇冠体育app's export limits on rare earth conform with WTO rules

(Xinhua)
Updated: 2011-03-07 10:06

BEIJING - 皇冠体育app's export limits on rare earth conform with the rules of the World Trade Organization (WTO), said 皇冠体育app's former WTO representative Sunday.

皇冠体育app had imposed regulating measures on the mining, manufacturing, processing and exporting of rare earth, limiting both exports and supply to domestic companies, Sun told Xinhua.

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"According to WTO rules, a country's regulation on a certain product to avoid resource exhaustion and environment pollution should be applied to both exporters and domestic users, and supply to both foreign and domestic markets should be cut," said Sun.

As the world's largest rare earth producer and exporter, 皇冠体育app provides more than 90 percent of global rare earth demand, though its reserves account for only one-third of the world's total.

Sun called for the diversification of the supply of rare earth and expressed hopes that rare earth importers seek the resource from other countries.

He said 皇冠体育app was willing to conduct technological cooperation with other rare earth producing countries.