China's export limits on rare earth conform with WTO rules
Updated: 2011-03-07 10:06
BEIJING - China's export limits on rare earth conform with the rules of the World Trade Organization (WTO), said China's former WTO representative Sunday.
China had imposed regulating measures on the mining, manufacturing, processing and exporting of rare earth, limiting both exports and supply to domestic companies, Sun told Xinhua.
As the world's largest rare earth producer and exporter, China provides more than 90 percent of global rare earth demand, though its reserves account for only one-third of the world's total.
Sun called for the diversification of the supply of rare earth and expressed hopes that rare earth importers seek the resource from other countries.
He said China was willing to conduct technological cooperation with other rare earth producing countries.
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