Metals News
Launch of China rare Earth Series Index held in Baotou
translation
09:28PM
Dec 31,2019
The content below was translated by Tencent automatically for reference.

On December 31, 2019, at this important moment of bidding farewell to the old and welcoming the new, the launch of China's rare earth series index was held in Baotou City. This press conference is sponsored by the Baotou Municipal people's Government, Baotou rare Earth High-tech Zone Management Committee, Baotou Development and Reform Commission, Baotou rare Earth products Exchange.

It is understood that the China rare Earth Series Index is the only rare earth series index in the world jointly compiled by the China Economic Information Society and the Baotou rare Earth products Exchange. The index comprehensively and objectively reflects the price trend of China's rare earth market, accurately characterizes the development trend of the rare earth industry, and scientifically measures the development level of the rare earth industry. The Inner Mongolia Autonomous region Development and Reform Commission has incorporated China's rare earth series index into the price monitoring center platform in order to comprehensively promote the development of the rare earth industry, promote the upgrading of the rare earth industry, and realize the high quality development of the rare earth industry.

Yang Qing, director of the Industrial Price Monitoring Department of the Price Monitoring Center of the National Development and Reform Commission, said that China is a big country in the production, export and consumption of rare earth minerals in the world. With the increasingly important position of rare earths in the national economy, aerospace and national defense strategy, the high quality development of rare earth industry has become a major issue at present. The new pattern of rational development, orderly production, efficient utilization, scientific and technological innovation and coordinated development of rare earth industry is the development direction in the future. It is hoped that the Baotou rare Earth products Exchange, under the leadership of the Baotou Municipal Committee and Municipal Government and under the guidance of the Autonomous region Development and Reform Commission, will make continuous efforts to make solid progress in the marketization of rare earth trading, become a trading center of rare earth products with national and even international influence, and form an international voice of rare earths in China.

Zhao Jiangtao, deputy secretary of the Baotou Municipal CPC Committee and mayor, said at the meeting that the world's rare earths look at China and China's rare earths look at Baotou. Since 2016, China rare Earth Price Index, China rare Earth Industry Prosperity Index and China rare Earth Industry Development Index have been released in Baotou one after another. The launch and launch of this series of indexes have constructed the evaluation system of China's rare earth industry index, which provides a decision-making basis for the government and enterprises, which is also a solid step forward in Baotou's economic strategy of serving the country. The launch of China's rare earth index series is bound to push the price of Chinese rare earths around the world and win more say for Chinese rare earths.

Wang Jinbao, deputy director of the Development and Reform Commission of the Inner Mongolia Autonomous region, said in his speech that at this time node of bidding farewell to the old and welcoming the new, it has not only ushered in an important day for the release of China's rare earth industry development index, but also an important moment for China's rare earth series index to be included in the development of pillar industries and the price index system of characteristic products in the autonomous region. So far, the Inner Mongolia special index system, which is composed of coal price series index, Inner Mongolia modern coal chemical industry index, Inner Mongolia modern dairy index and so on, has added new members to further enrich the content of the index system. In the future, we will gradually build a more complete special index system in Inner Mongolia, and we also look forward to the positive response and attention of relevant departments, enterprises, and trade associations, and cooperate in a variety of ways to contribute to the sustainable and high-quality development of Inner Mongolia Autonomous region.

Zhang Honghe, executive deputy editor-in-chief of Xinhua News Agency Inner Mongolia Branch, praised the Baotou Municipal Government, the "capital of rare earths," for playing rare earth cards and actively exploring the rare earth field and the modernization of the rare earth industry governance system and governance capacity. Zhang Honghe expressed the hope that China's rare earth industry development index, together with the previously released price index of Chinese rare earth products and the prosperity index of China's rare earth industry, will jointly serve the development of China's rare earth industry.

On behalf of the project team, Liu Xinglin, index analyst of China Economic Information Service, made a brief introduction and interpretation of China's rare earth series index from four aspects: index design, compilation method, evaluation results and release and display.

China rare earth series index is composed of Chinese rare earth price index, Chinese rare earth industry prosperity index and Chinese rare earth industry development index. It is a vivid embodiment of the application of rare earth big data. It truly reflects the price fluctuation and industrial development in the field of application and consumption of rare earth functional materials, provides effective value reference for market participants, and provides a reliable basis for studying and judging the market trend of rare earth applications.

Rare earth
Baotou
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