China defends rare earth curbs
By Richard Fu |
June 21, 2012, Thursday
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Print Edition
Print Edition
CHINA yesterday defended its restrictions on the rare earths industry and rejected a complaint over export limits lodged by the US, Europe and Japan with the World Trade Organization.
The export curbs on rare earths, used in high-tech products such as smartphones, hybrid car batteries and missiles, are to protect the environment and are in line with international trade rules, Su Bo, China's vice minister of industry and information technology, told a news conference.
China will not develop its rare earths industry at the expense of the environment, according to its first white paper on the crucial elements issued yesterday.
The country will coordinate environmental protection with the industry development of rare earths, it said, adding that mining and production of the materials had taken a toll on China's environment.
To control environmental damage and protect the non-renewable resources, the country has announced many measures, including production caps, export quotas, stricter emission standards and higher taxes.
Su rejected a complaint lodged by the three major economies with the WTO in March which said China's export limits were the reason for surging rare earths prices overseas and gave domestic manufacturers an unfair advantage.
Su said China never interfered with prices. It was the high demands of foreign companies and customs costs that partly resulted in higher prices on the international market, he said.
Rare earths price rises are a "completely rational response" that reflect the real value of the resources, which were previously undervalued and sold "as cheaply as cabbages and carrots," Su said. "China opposes politicizing the rare earths issue and has never used the industry as a tool for political or economic gain."
China held initial talks with related parties at the WTO on April 25 and 26 and was willing to have the dispute solved as soon as possible, Gao Yunhu, vice director of the industry ministry's rare earths office, said. China would "actively use WTO rules" to protect its own legitimate rights and interests, he added.
The dispute, now in consultation phase, will be sent to a WTO panel for a ruling if no resolution can be reached.
China supplies more than 90 percent of the world's rare earths, but has only 23 percent of its reserves, the white paper notes.
It exported 18,600 tons last year, 60 percent of its quota, in part because of sluggish demand.
The export curbs on rare earths, used in high-tech products such as smartphones, hybrid car batteries and missiles, are to protect the environment and are in line with international trade rules, Su Bo, China's vice minister of industry and information technology, told a news conference.
China will not develop its rare earths industry at the expense of the environment, according to its first white paper on the crucial elements issued yesterday.
The country will coordinate environmental protection with the industry development of rare earths, it said, adding that mining and production of the materials had taken a toll on China's environment.
To control environmental damage and protect the non-renewable resources, the country has announced many measures, including production caps, export quotas, stricter emission standards and higher taxes.
Su rejected a complaint lodged by the three major economies with the WTO in March which said China's export limits were the reason for surging rare earths prices overseas and gave domestic manufacturers an unfair advantage.
Su said China never interfered with prices. It was the high demands of foreign companies and customs costs that partly resulted in higher prices on the international market, he said.
Rare earths price rises are a "completely rational response" that reflect the real value of the resources, which were previously undervalued and sold "as cheaply as cabbages and carrots," Su said. "China opposes politicizing the rare earths issue and has never used the industry as a tool for political or economic gain."
China held initial talks with related parties at the WTO on April 25 and 26 and was willing to have the dispute solved as soon as possible, Gao Yunhu, vice director of the industry ministry's rare earths office, said. China would "actively use WTO rules" to protect its own legitimate rights and interests, he added.
The dispute, now in consultation phase, will be sent to a WTO panel for a ruling if no resolution can be reached.
China supplies more than 90 percent of the world's rare earths, but has only 23 percent of its reserves, the white paper notes.
It exported 18,600 tons last year, 60 percent of its quota, in part because of sluggish demand.
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