Abstract: The development and application level of rare earth resources is an important symbol of national comprehensive strength. Despite of its promoting economic and social development, rare earth resources and environmental issues have become more pressing than ever before. Rare earth industry development is related to national security strategy. This paper analyzes the development asymmetries of Chinese rare earth industry, including resource reserves, production and exports, value and price, product structure and technological content, control policies and control effects. It provides a new perspective on promoting the continuous and health research and practice of rare earth industry in China.