China is taking a more stringent approach to managing the total output of rare earth minerals and other critical resources, while also reforming the taxation system for resource products and reinforcing the reserves of oil and gas. On March 14, officials from the Ministry of Land and Resources addressed reporters during a press conference, emphasizing that this year will see a comprehensive effort to improve the efficient use of natural resources. The government plans to deepen the paid-use system for mineral resources and strictly regulate the total mining volume of rare earths and other key minerals. It also aims to promote the rational utilization of both domestic and international resources.
Xiao Su, deputy director of the Ministry, highlighted that over the past five years, China has significantly strengthened its resource support capacity. New geological discoveries have led to major oil and gas fields, such as the two-billion-ton oilfield in Qiandongnan and the Baozi Bay in Shaanxi. Despite increased mining activity, oil, natural gas, and coal reserves have grown by 17.3%, 54%, and 17.4% respectively. The comprehensive utilization rate of key mines, like Qinghai Salt Lake, has also improved. Efforts to control the total mining of rare earths have helped reverse the previous situation of "advantageous resources becoming a disadvantage." Additionally, the industry has been restructured, with 46,000 environmentally harmful or unsafe mines shut down, leading to more sustainable and large-scale mining practices.
Wang Min, another deputy director, mentioned that the current taxation system for resource products is outdated. For example, the maximum annual fee for exploration rights is set at 500 yuan per capita kilometer, and 1,000 yuan per square kilometer for mining rights—both based on standards from 1998. These rates are no longer effective for economic regulation. He revealed that the Ministry of Land and Resources and the Ministry of Finance have already drafted an initial reform plan.
Wang also emphasized the need to strengthen national resource reserves. While China has begun building up its oil and gas reserves, work is ongoing for other mineral resources. He stressed that "going global" is a necessary strategy, as China will actively engage in international mining cooperation and make full use of both domestic and foreign markets.
It is worth noting that over 90% of raw materials for petrochemical products come from mineral resources. China ranks among the world leaders in the production of crude oil, phosphate rock, pyrite, Glauber’s salt, gypsum, barite, graphite, and rare earths. However, important resources like oil, natural gas, and potash remain in short supply, with high import dependency. Furthermore, the misuse and inefficient utilization of minerals such as phosphate ore and rare earths continue to hinder the development of downstream industries. Addressing these challenges is crucial for long-term sustainability and economic growth.
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