Economy

China hopes to co-op on rare earth utilization

(Xinhua)
Updated: 2010-10-28 13:50

BEIJING - China hopes to cooperate with other countries in utilizing its rare earth while protecting the non-renewable resource, Ministry of Industry and Information Technology (MIIT) Spokesman Zhu Hongren said Thursday.

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China has taken some measures to restrict the exploitation, production and export of rare earth, to help address rare-earth industry problems like waste and pollution, Zhu said at a press conference.

The measures are in line with World Trade Organization rules, Zhu added.

China is the world's largest producer and exporter of rare earth. Its rare earth reserves account for 55.7 percent of the world total while its rare earth exports are 90 percent of the world total, Zhu said.