China’s biggest plan is not only to become the world’s largest economy, but also to start manufacturing and dominate all sectors on a large scale.
Based on this, it has decided to create the world’s largest rare-earth company and thereby dominate the trade market.
Rare mineral metals
The 17 metallic minerals that are considered the rarest minerals in the world are called rare-earth elements. With Chinese companies already dominating the sector, it has decided to merge state-owned enterprises to take production volume and trade to the next level and bring the international trade market under its control.
India
While privatizing state-owned enterprises and organizations in India, the Chinese government is preparing to challenge the world community and the international trade market by teaming up with 3 state-owned enterprises in China.
Chinese government
China has announced the formation of a world-class mining company, China Rare-Earths Group, a joint venture between the Chinese state-controlled China Metal Corp, Aluminum Corp of China and the Ganzhou Rare Earth Group.
Increase in production
The alliance was created to boost mining and mineral production in southern China, according to a report submitted to the China Stock Exchange.
Southern Area Target
The Chinese government announced in September that it plans to set up two privately-owned companies in the South and North to expand large-scale trade in the Rare-Earth segment. Following this, China has now formed the Rare-Earths Group for the south.
The first Fighter Jet smartphone
Significantly, China already dominates the production of 17 important minerals in the Rare-Earth segment, which can be used to make everything from smartphones to fighter jets.
Link to 3 Government Companies
By merging these 3 government companies, it will be possible to make greater use of the resources available in the company. The China Rare-Earths Group is also dominant in market demand and price determination.
Stock splitting
The Chinese government has said it will acquire a 31.21 per cent stake in the state-owned Asset Oversight Board and the other three companies (China Metal Corp, Aluminum Corp of China, Ganzhou Rare Earth Group) will each own a 20.33 per cent stake in the new alliance.
Lockdown in China .. 1.3 crore people paralyzed at home .. Locks to factories ..!
The corona virus, which is spreading in China, is a major impediment to the country’s development as China plans to re-dominate its production and exports while the world is plagued by the corona and omega virus.
All office and factories have been paralyzed by the imposition of strict lockdown restrictions in the region as the corona spreads in the western Xi’an province of China.
Beijing Winter Olympics
Meanwhile, with the Beijing Winter Olympics set to begin on February 4 in China, questions are being raised as to whether the corona infection in the Xi’an region will affect the competition as work begins to accelerate. The Japan Olympics also started late due to the Corona infection.
