New central enterprise is here! China Rare Earth Group Co., Ltd. is officially established

On December 23, the new state-owned enterprise China Rare Earth Group Corporation was officially established.

China Rare Earth Group is a large rare earth enterprise group established in accordance with market-oriented and rule of law principles by China Aluminum Corporation, China Minmetals Corporation and Ganzhou Rare Earth Group Co., Ltd., in order to achieve complementary advantages in rare earth resources and coordinated development of the rare earth industry. It introduced two rare earth technology research and development companies, China Iron and Steel Research Institute Group Co., Ltd. and China Iron and Steel Research Institute Group Co., Ltd.

According to People's Daily Online, the China Rare Earth Group, after its establishment, is a diversified central enterprise directly supervised by the State-owned Assets Supervision and Administration Commission of the State Council. Its equity structure is as follows: the State-owned Assets Supervision and Administration Commission of the State Council holds 31.21%, Aluminum Corporation of China, China Minmetals Corporation and Ganzhou Rare Earth Group Co., Ltd. hold 20.33% respectively, and China Iron and Steel Research Institute Co., Ltd. and China Minmetals Research Institute Co., Ltd. hold 3.90% respectively.

The establishment of China Rare Earth Group is a beneficial exploration and attempt by China Aluminum Corporation, China Minmetals Corporation and Ganzhou Rare Earth Group based on their own development needs and adapting to the laws of industry development.

China Rare Earth Group will focus on rare earth technology research and development, exploration and development, separation and smelting, deep processing, downstream applications, complete sets of equipment, industrial incubation, technical consulting services, import and export and trading business, and is committed to building a world-class rare earth enterprise group with global competitiveness.

Since the beginning of this year, the pace of integration and reorganization of central enterprises has accelerated significantly. At present, China Star Network, China Electric Equipment and China Logistics Group have been established, the two chemical companies have been jointly reorganized, China Electronics Technology Group Corporation has reorganized China Putian, Anshan Iron and Steel Group has reorganized Benxi Steel, and the asset reorganization of the National Pipeline Network Group has been successfully completed.

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https://mp.weixin.qq.com/s/z-GBpQrwH-Iqi3p-T54sdw

Related pictures and information are from: Hua Xiaoxin

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