China plans big expansion of rare earth business

China Manager magazine has reported that it did a data check and found that there are currently 38,000 companies doing work related to rare earth elements in China.

Over the past 10 years, the number of registered companies doing this work has fluctuated. In 2019, the number of new registrations was 4,818, while the number of registrations in the first three quarters of this year was 5,694, a year-on-year increase of 52%, including 2,450 that were added in the third quarter.

In terms of geographical distribution, Inner Mongolia ranks first with 24,000 companies, and most of them (23,700) are companies in Baotou, which has 62.5% of the country's total.