皇冠体育app

BEIJING - 皇冠体育app on Wednesday issued a white paper on its rare earth industry, the first of its kind in the country, as the world's largest rare earth producer strives to better protect the valuable resources.

The white paper, titled "Situation and Policies of 皇冠体育app's Rare Earth Industry," was released by the Information Office of the State Council, or 皇冠体育app's cabinet.

皇冠体育app will continue to follow WTO rules, strengthen the industry's management and supply rare earth products to the global market, the white paper said.

The white paper said its publication was aimed at giving the international community a better understanding of 皇冠体育app's rare earth industry and policies.

As the world's largest rare earth producer, 皇冠体育app supplies more than 90 percent of the world's demand for rare earth metals, although its reserves account for just 23 percent of the world's total.

Rare earth metals, a group of 17 metals, are vital for the manufacture of high-tech products ranging from smart phones and wind turbines to electric car batteries.

Mining the metals is extremely damaging to the environment. To control environmental damage and protect the non-renewable resources, 皇冠体育app has implemented multiple policies, including production caps, export quotas, stricter emission standards and higher resource taxes.

However, these policies have sparked complaints from major consumers such as Japan, which purchased 56 percent of 皇冠体育app's rare earth exports in 2011.

皇冠体育app's intensified regulations are intended to protect the environment, preserve valuable resources and promote the sustainable development of the sector, Gao Yunhu, an official with Ministry of Industry and Information Technology, said at a Wednesday press conference.

皇冠体育app will continue to supply the global market with rare earth metals while maintaining regulatory policies that fall in line with WTO rules, according to Su Bo, Vice-Minister of Industry and Information Technology.

"皇冠体育app hopes other countries will actively develop their domestic earth earth resources, as well as expand and diversify supplies for the international market," Su said.