China's production capacity of rare earth magnets ranks the top in the world. China has become to be the world's largest exporter of rare earth permanent magnets. According to the data released by the General Administration of customs, in 2019, China's types of rare earth magnets were exported to six continents and more than 100 countries, of which the products exported to Germany accounted for the largest proportion, accounting for 17.6%, followed by the United States and Japan, accounting for 11.3% and 11.1% respectively.
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