Hongpo Shen reports that China actual exported 24,826 tons of rare earth ore, metals and compounds in the first 11 months of 2014. Exports volume rose 24.75 per cent year-on-year, but the exports value declined 33.2 per cent to 341.1 million US dollars compared to the same period in 2013, according to the latest data released by the China Customs Statistics Information Center.
On December 31, 2014 China Ministry of Commerce -MOFCOM- and the General Administration of Customs - GAC - jointly issued the following two announcements, effective January 1, 2015 - Catalog of Commodities subject to Export License Administration in 2015 -Announcement of 2014, No.94, and License-Issuing Catalog i-Organization appeal in August 2014. 48 varieties of goods subject to the administration of export license in 2015 shall be subject to the administration of export quota license, export quota bidding market in 2015 due to the WTO ruling.
The rare-earth permanent magnet industry in 2015 is ushering in a new round of rapid growth, primarily driven by the low-carbon economy such as electric vehicles and energy efficient motors industries, said Wang Zhenxi, Chairman of Beijing Zhong Ke San Huan High-Tech Co., which uses rare-earth metals in production. Previously relying on rare earth stockpiles in China and with the ongoing crackdown on illegal rare earth exporting The Chinese government will continue to adjust its rare earths policy to further tighten its supply of rare-earth metals.
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