SHANGHAI, March. 25 (SMM) -China has been the world's largest rare earth resources country, but due to the limited backward processing technology, it is only an export raw material-based country for a long time. While the Beijing Nonferrous Metal Research Institute has announced an exciting news on 24 March 2013 that, The National Engineering Research Center of China's Rare Earth Materials has been officially formed in Beijing. With the birth of the national team, China's rare earth industry will transform from resource exports into high-tech products output.
According to Ao Hong, the Vice President of the Beijing Nonferrous Metal Research, The National Engineering Research Center of China's Rare Earth Materials is one of the first research centers backed by the State Planning Commission, with the utilization of World Bank Loan. Previously, the intellectual and capital spent on the study of Chinese domestic rare earth project are relatively dispersed, resulting in lower technical content of rare earth products, long-term raw material exports.