Report: Rejig policies curbing exports of rare metals

China's policies restricting exports of certain rare metals fail to protect the country's resources and undermine its validity to tap overseas resources, according to a report on China's mining industry.

The nation should adjust such policies so as to oppose resource protectionism, said the report, which was composed by a research team under the Chinese Academy of Social Sciences' Institute of Industrial Economics after research on domestic mines and enterprises of various kinds.

Late last month, the US and the EU filed a complaint with the World Trade Organization (WTO) against China on raising export taxes and reducing the export quotas on some raw materials, including some rare metals. They argued that the policy is not in line with China's commitment when it joined the WTO in 2001.