China's rare earth export quota system began at 1998. Since 20 10 China reduced the export scale of rare earths, the global rare earth stocks have almost been exhausted. China consumes about 70% of the world's rare earths, while its supply accounts for 90% of the world's total. China implements export quota system for tungsten, molybdenum and rare earth, but a large number of export quotas for nearly three young rare earths are idle.

"China is a big exporter of rare earths, but it is at the bottom of the industrial chain. The leading technology at the bottom and the lack of high-end technology not only lost valuable non-renewable strategic resources, but also lost huge economic benefits. " With the loss of WTO lawsuit, the adjustment of rare earth export quota policy is inevitable;

The first quarter of 20 15 will be a crucial period for the rare earth industry in China. In order to prevent the export volume from increasing and the price from falling, the country can't wait to rectify the rare earth industry. Regarding the cancellation of rare earth tariffs, the government is considering replacing export tariffs with high resource taxes, and there are many objections, which have no substantive effect. Li Wei said that in recent years, the scope of export tariffs on rare earths in China has been expanded, and the tax collection has been intensified. The export of rare earth is in a downward trend, from 50,000 tons/year before 2007 to 20,000 ~ 30,000 tons/year now. Chen Zhanheng, deputy secretary-general of China Rare Earth Industry Association, said: "The cancellation of rare earth export quotas will also have an impact on the industry, depending on the market reaction." At the national level, the cancellation of rare earth export quotas will make it more difficult for China to protect rare earth resources and ecological environment, but it can also stimulate China to introduce more effective measures in this regard and increase protection efforts. From the enterprise level, the cancellation of rare earth export quotas may promote the development of marketization.

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