原文标题：China cracks down on foreign companies stockpiling rare earths 原文连结：https://tinyurl.com/mr2ueaza 发布时间：Fri, August 15, 2025 at 8:35 PM 记者署名：Joe Leahy and Ryan McMorrow in Beijing 原文内容： China has told foreign companies not to hoard rare earths as fears about Beijing’s export curbs drive up demand for the metals vital in a range of critical technologies. 中国已告诉外国企业不要囤积稀土，因为外界担心北京的出口限制措施推高了这些对各种 关键技术至关重要金属的需求。 Beijing is warning buyers they are at risk of greater supply restrictions if they stockpile rare earths and derived products such as magnets used in electric motors, according to two people familiar with the matter. 据两位知情人士透露，北京警告买家，如果他们囤积稀土及其衍生产品（如用於电动机的 磁铁），将面临更严格的供应限制。 The other person said Chinese authorities were deliberately limiting approved export volumes to prevent foreign stockpiling. “This will be a leverage point from now on,” they said. 另一位人士表示，中国当局正故意限制批准的出口数量，以防止外国囤货。他说：「这将 从现在起成为一个杠杆点。」 China dominates the production of rare earths, processing about 90 per cent of the world’s supply and making 94 per cent of permanent magnets. It has weaponised that control over the vital industry in the trade war with the US. 中国在稀土生产上居於主导地位，加工了全球约 90% 的供应，并生产了 94% 的永磁体。 在与美国的贸易战中，中国已将对这一关键产业的控制武器化。 Beijing’s efforts to prevent companies from building up large inventories, which would give them more flexibility to respond to shortages and price fluctuations, show its determination to maintain maximum leverage in a sector. 北京防止企业建立庞大库存的努力，因为库存会让外企在短缺和价格波动中更有灵活性， 这显示了中国决心保持在该产业的最大杠杆作用。 China placed seven categories of medium and heavy rare earths on an export control list in April in response to US President Donald Trump’s tariffs. That move triggered shortages across industries, particularly automobiles. 中国在四月将七类中重稀土列入出口管制清单，以回应美国总统川普的关税。这一举措引 发了各产业的短缺，特别是汽车业。 Beijing controls the output of rare earths through mining and processing quotas. Only two state-owned companies were allocated quotas last year. 北京透过采矿与加工配额来控制稀土产量。去年仅有两家国有企业获得配额。 The problem has led some western companies to shift production of finished products to China — a result that suits Beijing as it seeks to increase control of the supply chain. 这个问题导致一些西方公司将成品生产转移到中国 —— 这正合北京之意，因为它希望进 一步掌控供应链。 Louis Pinkham, CEO of US-based Regal Rexnord Corp, said the company had moved some production to China to assemble rare earth magnets into products locally and ease their export. 美国 Regal Rexnord 公司的 CEO Louis Pinkham 表示，公司已将部分生产转移到中国， 在当地将稀土磁铁组装成产品，以便於出口。 心得/评论： 中国政策：北京禁止外企囤积稀土与磁体，并透过出口配额、逐笔审查来限制外国公司的 进货。 全球格局：中国控制全球 90% 稀土加工、94% 永磁体，并将此作为贸易战谈判的战略筹 码。 效果：美欧企业因进口受限，被迫将部分生产迁往中国，反而强化了中国对产业链的掌控 。 短期影响：限制措施已造成汽车、电机等产业短缺与价格波动。 长期风险：美国与盟国可能加速寻找替代来源或回收技术，以减低对中国的依赖。 --

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