SHANGHAI, Oct 19 (SMM)—The 22nd session of the Standing Committee of the 13th National People's Congress formally adopted the Export Control Law (official draft) on October 17. The law includes five chapters, including general principles, control policies, lists and measures, supervision and management, legal responsibilities and supplementary provisions, totaling 49 articles. It will come into effect on December 1, 2020. In addition to traditional dual-use items, military products and nuclear products, other "goods, technologies, services" related to the maintenance of national security and interests and the performance of international obligations such as non-proliferation are also included in the scope of control.
Some market participants believe that the move may involve an important strategic resource—rare earth products, but according to SMM surveys, companies have not received relevant notices yet. It is recommended to continue to pay attention to the latest policy situation.
As a rare and non-renewable strategic resource, rare earth is known as the "industrial vitamin" and the "mother of new materials", and is widely used in fields of advanced science and technologies and military industry. For example:
In the process of steelmaking, only add a small amount of rare earth into steel can make the high-quality steel "stronger" and improve its service life;
In the military field, rare earth can greatly improve the alloy tactical performance of weapons and equipment. In the Gulf War for instance, the night vision device added with lanthanum became an overwhelming superiority of US tanks;
In the field of nuclear energy, gadolinium and its isotopes are the most effective neutron absorbers, which can be used as inhibitors to control the chain reaction level of nuclear power plants;
In daily life, rare earths are everywhere, ranging from mobile phone screens and digital cameras to missiles, radars and submarines.
