Rare earth invoice to curb illegal mining
Updated: 2012-06-01 07:03
(Xinhua)
|
|||||||||||
BEIJING - China is to introduce a specialized value-added tax invoice system for rare earth producers on Friday in an effort to curb rampant illegal mining and production of the metals.
The introduction is an important regulatory step, as it will curb illegal mining and excessive production, said Li Shanle, an official with the bureau of industry and information technology in Jiangxi province, one of the country's major rare earth production bases.
However, some industry insiders have questioned the impact of such a move.
The invoice will only be effective to regulate legal enterprises, but might not control illegal miners and producers as they do not need invoices, warned Zhang Xiaoping, general manager of the South Rare-earths Company in Dingnan county of Jiangxi province.
China is the world's largest producer of rare earths, a group of 17 metals vital for the manufacture products ranging from smart phones, wind turbines, electric car batteries to missiles.
The country now supplies more than 90 percent of rare earth products on the global market. Lured by high profits, illegal mining and smuggling cases continue in the country despite the government's counter efforts.
Related Stories
Maldives: paradise on Earth 2012-05-29 15:26
Chinese enterprises join in Rio+20 Earth Summit 2012-05-29 21:27
Glimpse of Earth's declining animal population 2012-05-24 15:46
China adds quotas for rare earth exports 2012-05-18 10:02
China announces additional export quotas for rare earths 2012-05-17 23:50
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |