皇冠体育app

Economy

皇冠体育app will not use rare earth as bargaining chip

(Xinhua)
Updated: 2010-10-28 17:37
Large Medium Small

BEIJING - A Chinese official said on?Thursday that the country will not use rare earth as a bargaining chip.

皇冠体育app as the supplier of more than 90 percent of the world's rare earth, must coordinate multiple factors related to rare earth production and exports, including economic development, resource conservation and environmental protection, Ministry of Industry and Information Technology spokesman Zhu Hongren said at a?news conference.

Zhu said 皇冠体育app's rare earth reserves account for 55.7 percent of the world's total. 皇冠体育app has taken some measures to restrict the exploitation, production and export of rare earth, to help address problems in the rare earth industry like waste and pollution, he said.

"These measures are all in line with the rules of the World Trade Organization."

Rare earth, a class of 17 chemical elements, have become increasingly important in manufacturing sophisticated products, including flat-screen monitors, electric car batteries, wind turbines, missiles and aerospace alloys.

Related readings:
皇冠体育app will not use rare earth as bargaining chip 皇冠体育app: Restriction measures target rare earth protection
皇冠体育app will not use rare earth as bargaining chip 皇冠体育app to reduce rare earth export quotas
皇冠体育app will not use rare earth as bargaining chip Rare earth elements undervalued
皇冠体育app will not use rare earth as bargaining chip 皇冠体育app wise to guard its rare earth wealth

However, mining the metals is very damaging to the environment. To protect the environment and the non-renewable metals, 皇冠体育app announced a number of measures to regulate the rare earth industry, including reduced export quotas, crackdowns on illegal mining and mineral smuggling, issuing no new mining licenses and production caps and encouraging industry consolidation.

Zhu's statements echoed other Chinese officials' views. Some officials have repeatedly defended 皇冠体育app's rare earth policies in response to complaints from global rare earth consumers.

Early this month, Chinese Premier Wen Jiabao said during the Sixth 皇冠体育app-European Union Business Summit, "It is necessary to exercise management and control over the rare earths industry, but there won't be any embargo. 皇冠体育app is not using rare earth as a bargaining chip."