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China to curb rare earth smuggling
(chinadaily.com.cn)
Updated: 2009-09-14 11:25 As the demand for rare earth increases year by year, too many buyers are now taking the risk of smuggling rare earth from China, the China Business News (CBN) reported. China is the world’s largest exporter of rare earth, which contains elements used in everything from agriculture to manufacturing. A government official told the CBN that about 20,000 tons of rare earth was smuggled from China in last year alone. According to customs statistics, last year’s export of rare earth oxide amounted to only 39,500 tons, which means smuggling accounted for one-third of the total volume of rare earth leaving China. The Ministry of Industry and Information Technology has included plans to curb the smuggling of rare earth in the "Rare-earth Industry Development Plan 2009-2015," an unnamed expert who participated in the drafting of the plan said. He says relevant regulations and policies will be applied to punish rare-earth smuggling. |
