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MembersUpholding the guiding ideology of using the association as a platform, centering on member units, and taking industry development as our responsibility, we fully leverage the initiative of the association to create a fair, transparent, and efficient industry organization led by the enterprises.
A plan to promote the comprehensive development of the precious metals industry
Release time:
14 Mar,2024
On March 13, the State Council issued the "Action Plan for Promoting Large-Scale Equipment Upgrades and the Trade-in of Consumer Goods for New Ones" (hereinafter referred to as the "Action Plan"), implementing four actions: equipment upgrades, trade-in of old consumer goods for new ones, recycling and reuse, and standard improvement. This will vigorously promote the production and application of advanced equipment, promote the continuous increase in the proportion of advanced production capacity, and smooth the resource recycling chain, opening up a huge resource recycling market worth trillions of yuan.
A Plan to Promote the Comprehensive Development of the Precious Metals Industry
--Implementing the State Council's "Action Plan for Promoting Large-Scale Equipment Renewal and Consumer Product Trade-in for New Ones"
On March 13, the State Council issued the "Action Plan for Promoting Large-Scale Equipment Renewal and Consumer Product Trade-in for New Ones" (hereinafter referred to as the "Action Plan"), implementing four actions: equipment renewal, consumer product trade-in for new ones, recycling and utilization, and standard improvement. It vigorously promotes the production and application of advanced equipment, promotes the continuous improvement of the proportion of advanced production capacity, and smooths the resource recycling chain. A huge resource recycling market with a scale of trillions of yuan has been opened.
Based on the "Action Plan", the Precious Metals Working Committee of the China Association of Materials Recycling has comprehensively planned the development path of China's precious metals industry from aspects such as precious metal recycling output, trade-in of waste three-way catalytic converters, reverse invoicing to natural persons, simplified taxation, information platform construction, standardization, technological innovation, and intelligent equipment.
Leading the Way: Promoting High-Level Recycling of Precious Metal Resources
The "Action Plan" clearly proposes that by 2027, the investment scale in equipment in the industrial, agricultural, construction, and transportation sectors will increase by more than 25% compared to 2023, the amount of scrapped vehicles recovered will increase by about double compared to 2023, the volume of used car transactions will increase by 45% compared to 2023, the amount of waste home appliances recovered will increase by 30% compared to 2023, and the proportion of recycled materials in resource supply will further increase. From a national and macro perspective, it clarifies the development goals and directions for high-level recycling of precious metal resources in China, injecting strong impetus and confidence into the development of the precious metals industry.
In September 2023, our association participated in part of the development planning work of the "Action Plan". Secretary-General Bian made a special report on the "Five-Year Plan for the Development of China's Precious Metals Industry", proposing that by 2027, China's platinum group metal recycling will reach 70 tons, and the self-sufficiency rate will increase from the current 16% to 45%, providing detailed industrial development data and action basis for the release of the "Action Plan".
Deepening New Productivity: Promoting the Sustainable Development of Precious Metal Resource Recycling
The "Action Plan" proposes to "implement recycling and utilization actions", promote the agglomeration and scale development of recycled resource processing and utilization enterprises, support the construction of recycled resource processing industrial clusters, actively explore information traceability systems for recycled materials that meet international standards, strengthen the research and development and application of rare and precious metal extraction technologies, and improve import standards and policies for recycled materials.
China's precious metals industry is at a new historical starting point. First, we must take a long-term view, plan the overall situation, and tap into new productivity, establish and improve the precious metal resource recycling network, and strengthen raw material security; second, we must strengthen technological innovation, promote industrial transformation and upgrading, actively explore new models of industry-academia-research-application cooperation, connect basic research, frontier research, and applied research, accelerate breakthroughs in key technologies for refining and extraction, promote the upgrading and transformation of core enterprise processes and the promotion and application of intelligent equipment, and continuously improve the technical level of precious metal resource utilization; third, we must strengthen the research and development of new products, promote the differentiated development of enterprise products, and enhance the core competitiveness of enterprises; fourth, we must strengthen industrial chain integration, extend the industrial chain, and improve the industry's risk resistance; fifth, we must strengthen the scale, information, and standardization development of the industry, and improve the overall development level of the precious metals industry; sixth, we must strengthen international exchange and cooperation, and develop new channels for "going global".
Currently, the Precious Metals Working Committee, together with industry benchmark enterprises focusing on the recycling and utilization of precious metal resources, has completed and promoted the formulation of standards and regulations for the collection, dismantling, and storage of waste motor vehicle exhaust purification catalysts and the utilization and disposal of waste precious metal catalysts; it has initially completed the preliminary data collection and analysis of the precious metals industry market and carried out the construction and release of the precious metals industry market prosperity index and recycled platinum group metal price index system.
Next steps for the committee include: firstly, focusing on establishing a precious metal resource recycling network, focusing on the layout of collection points and the construction of trading platforms for waste automotive three-way catalysts, and promoting the standardization of three-way catalyst recycling; secondly, leading the organization of "trade-in for new ones" work for waste automotive three-way catalysts, studying the feasibility of constructing an information traceability management system for three-way catalysts, and exploring new business models for "trade-in + recycling" of waste three-way catalysts; thirdly, strengthening communication with local government departments in key overseas precious metals industry clusters, paying close attention to local industrial development policies and trends, and releasing overseas development risk alerts in a timely manner to protect enterprises' overseas development; fourthly, deepening the process of listing platinum and palladium futures, broadening precious metal trading models, accelerating the flow of precious metal resources in the market, and improving the risk resistance of enterprises; fifthly, strengthening industrial basic research, reporting the current situation and existing problems of industrial development through multiple channels, actively striving for policy support for industrial development, and creating a good atmosphere for development.
Increasing Fiscal Support: Focusing on Solving Tax Issues Restricting the Recycling and Utilization of Precious Metal Resources
The "Action Plan" emphasizes the need to "strengthen policy support", increase tax incentives for energy-saving and water-saving, environmental protection, and safe production equipment, and include digital and intelligent transformation within the scope of incentives. Promote the practice of resource recycling enterprises issuing "reverse invoices" to natural persons who sell scrapped products. Coordinate with the simplified value-added tax collection policy for recycled resource recycling enterprises, study and improve supporting measures for income tax administration, and optimize tax collection standards and methods.
Last year, regarding the tax policy issues for the development of the precious metals industry, the committee organized enterprises to hold on-site and telephone conferences many times to solicit opinions and suggestions from enterprises, and coordinated and communicated with the Ministry of Finance, the State Taxation Administration, and other departments many times to provide reference and actual data for the decision-making of tax policies to promote the development of the precious metals industry. Next, the committee will focus on the requirements of the "Action Plan" for resource recycling enterprises to issue "reverse invoices" to natural persons who sell scrapped products, conduct in-depth research and exploration of supporting measures for simplified collection, refine the implementation rules for "reverse invoicing" of precious metal resource recycling, and carry out pilot work for "reverse invoicing".
Focusing on Key Years and Planning Key Strategies to Promote High-Quality Development of the Precious Metals Industry
In 2024, the Precious Metals Working Committee will thoroughly implement the State Council's "Action Plan for Promoting Large-Scale Equipment Renewal and Consumer Product Trade-in for New Ones", implement the development goals of the "Five-Year Plan for the Development of China's Precious Metals Industry", accelerate the construction of a recycling system and network layout for waste three-way catalysts, promote the "trade-in for new ones" work for waste three-way catalysts, promote the green product certification work for recycled precious metals, improve the full-process standard system for the recycling and utilization of precious metal resources, develop new productivity, and comprehensively promote the high-quality development of China's precious metal resource recycling and utilization industry.
Precious Metals Working Committee, China Association of Materials Recycling
March 14, 2024
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