No, China Rare Earth Group was formally established on February 23rd, 20021,12. The group is a large-scale rare earth enterprise group established by China Aluminum Group Co., Ltd., China Minmetals Group Co., Ltd. and Ganzhou Rare Earth Group Co., Ltd. in accordance with the principles of marketization and legalization, in order to realize the complementary advantages of rare earth resources and the synergy of rare earth industry development. After its establishment, China Rare Earth Group belongs to the central enterprise with diversified shares directly supervised by the State-owned Assets Supervision and Administration Commission of the State Council.