Recently, the Fujian Provincial Department of Industry and Information Technology and the Fujian Provincial Department of Finance have revised Incentive Measures for Rare Earth and Related Products Production and Application in Fujian Province. The two departments later jointly issued Incentive Measures for Rare Earth New Materials Production and Application in Fujian Province. The new measures are designed to enhance the high-quality development of the rare earth new materials industry.

As reported, the new rare earth materials supported by these Measures primarily include rare earth metals and alloys (including single or mixed rare earth metals), various rare earth alloys, and rare earth functional materials. Among these, the rare earth functional materials are new materials produced from rare earth compounds (including oxides and salts), rare earth metals, and rare earth alloys. Examples of such functional materials include rare earth magnetic, hydrogen storage, luminescent, catalytic, polishing, crystal, and ceramic materials.