Rare earth body to promote development
Source: Xinhua |
April 9, 2012, Monday
|
Print Edition
Print Edition
CHINA'S rare earth industry yesterday set up an association with the aim of spurring healthy development in the sector.
The new body, consisting of 155 members including industry giants Aluminum Corporation of China and China Minmetals Corporation, was formed to promote sustainable and sound development in the sector, said Su Bo, vice minister of Industry and Information Technology which governs the association.
Gan Yong, an academician of the Chinese Academy of Engineering and also president of the Chinese Society of Rare Earths, will be the association's president.
He said the association will work to form a reasonable price mechanism and to create a win-win situation for developers and consumers.
Members of the association range across the industrial chain, including mining, smelting and splitting.
The association said it will actively provide support and services for relevant departments and local governments, help maintain order in the sector, facilitate exchange and cooperation between enterprises to spur innovation, and coordinate efforts to cope with trade frictions and disputes.
China has announced production caps, stricter environmental standards and an export quota system for rare earth metals in recent years.
But the moves triggered protests from several countries who claim that China is using the precious metals, used in the manufacture of an array of high-tech goods, as a "political bargaining chip."
In the latest dispute, the European Union, United States and Japan last month asked the WTO to settle a dispute with China over restrictions placed on exports of raw materials including rare earth.
Gan said the association will help deepen international communications and "properly" handle trade disputes according to international standards and WTO rules.
Meanwhile, Gan promised to shoulder responsibility to protect the environment as the country's rare earth exploitation has "owed too much to the environment."
The new body, consisting of 155 members including industry giants Aluminum Corporation of China and China Minmetals Corporation, was formed to promote sustainable and sound development in the sector, said Su Bo, vice minister of Industry and Information Technology which governs the association.
Gan Yong, an academician of the Chinese Academy of Engineering and also president of the Chinese Society of Rare Earths, will be the association's president.
He said the association will work to form a reasonable price mechanism and to create a win-win situation for developers and consumers.
Members of the association range across the industrial chain, including mining, smelting and splitting.
The association said it will actively provide support and services for relevant departments and local governments, help maintain order in the sector, facilitate exchange and cooperation between enterprises to spur innovation, and coordinate efforts to cope with trade frictions and disputes.
China has announced production caps, stricter environmental standards and an export quota system for rare earth metals in recent years.
But the moves triggered protests from several countries who claim that China is using the precious metals, used in the manufacture of an array of high-tech goods, as a "political bargaining chip."
In the latest dispute, the European Union, United States and Japan last month asked the WTO to settle a dispute with China over restrictions placed on exports of raw materials including rare earth.
Gan said the association will help deepen international communications and "properly" handle trade disputes according to international standards and WTO rules.
Meanwhile, Gan promised to shoulder responsibility to protect the environment as the country's rare earth exploitation has "owed too much to the environment."
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