SOURCE / ECONOMY By Global Times Published: Mar 01, 2021 02:52 PM
A worker manages a rare-earth solution at the Youli Science and Technology Development Company in Ganzhou on Friday. Photo: Li Hao/GT
The stock market rallied on Monday after China s industry ministry said that a draft rare-earth management rule aimed at high-quality industry development doesn t target the US.
A gauge of 58 rare-earth related stocks rallied over 5.54 percent on the A-share market on Monday, with seven stocks closing 10 percent higher the daily limit.
The Ministry of Industry and Information Technology (MIIT) said on Monday during a press briefing that China s release of a draft rare-earth management rule in January aims at standardizing the industry in line with long-term development and market demand, in response to speculation that China is likely to impose restrictions on rare-earth exports to the US.