Starting from June 1, information on rare earth products, including transaction volumes and customer names, must be registered in the Rare Earth Product Traceability Information System. The Rare Earth Product Traceability Information System is designed to support the implementation of the "Regulations on the Administration of Rare Earths". The scope of application includes enterprises engaged in rare earth mining, smelting and separation, metal smelting, material processing, comprehensive utilisation, as well as domestic trade, import and export of rare earth products. Rare earth products encompass rare earth ore products, various rare earth compounds (such as rare earth catalysts, luminescent materials, functional crystal materials, etc.), and various rare earth metals and alloys (such as rare earth permanent magnets, hydrogen storage materials, etc.).
Its long-term goal is to trace the entire rare earth production chain, not just magnets, to strengthen control over the industry and combat smuggling, illegal mining, and tax evasion.
