According to the inquiry of the State-owned Assets Supervision and Administration Commission of the State Council, the relevant person in charge of China Rare Earth Group Co., Ltd. introduced that under the new development pattern, the group management and intensive development of rare earth enterprises are conducive to increasing investment in scientific research, integrating innovative resources, improving the research and application capabilities of new rare earth processes, technologies and materials, further smoothing the communication and convergence between the upstream and downstream of the rare earth industrial chain and different fields, and better ensuring the upgrading of traditional industries and the development of strategic emerging industries. China Rare Earth Group Co., Ltd. was established by China Aluminum Group Co., Ltd., China Minmetals Group Co., Ltd. and Ganzhou Rare Earth Group Co., Ltd., and introduced two rare earth technology research and development enterprises, namely China Yan Gang Science and Technology Group Co., Ltd. and Youyan Science and Technology Group Co., Ltd., to realize the complementary advantages of rare earth resources and the synergy of rare earth industry development. It is a large rare earth enterprise group established in accordance with the principles of marketization and rule of law.