Abstract: Based on 252 important rare earth industry policy texts issued in the past 40 years of Reform and Opening-up, this paper analyzes the policy connotation and evolution trend of rare earth industry policy.According to the purpose of the country's control over the rare earth industry over the past 40 years, as well as domestic, international political, economic, and technological changes, the policy is divided into three stages, namely, the encouraging export development stage, the restricting export development stage, and the reopening of the development stage.The characteristics of each stage and its political, economic and technological background and connotation are analyzed.According to the logic main line of analyzing the background of politics, economy, technology, market, resources and environment, this paper further interprets and analyzes the connotation evolution of China's rare earth industrial policy from five angles:rare earth resource development policy, resource protective utilization policy, environmental protection policy of rare earth development, international trade policy of rare earth resources and rare earth application technology policy.It is hoped that through the establishment or improvement of laws and regulations related to rare earth, we will strengthen the foresight, enhance the implementation of policies, reduce the environmental cost of rare earth resources exploitation, attach importance to the protection of resources and environment, vigorously develop rare earth application technology, strive to solve the "six mismatches" of rare earth industry, actively participate in the exploration and development of global rare earth resources, and grasp the discourse power of global rare earth industry.We will build a sustainable, healthy, high-quality and efficient rare earth industry system.It can be predicted that in order to adapt to the economic development and market demand, there will be more breakthroughs in rare earth industrial policies in the future in further promoting the research and development of advanced weapons, the development of nano materials technology, high energy storage battery technology, intelligent driving technology, marine biology and other fields.