Abstract:Rare earth is one of the key minerals in the global competition. At present, the global rare earth resources and supply pattern are changing, and Western countries are actively building a supply chain to replace China. This paper describes the evolution of China's rare earth supply and demand pattern from the perspective of elements, analyzes the dislocation of supply and demand of China's rare earth elements and the challenges it faces under the great changes, and puts forward the balanced utilization strategy of rare earth elements, which provides an optimization plan for promoting the globalization of the industrial chain and ensuring the safety of China's rare earth resources.