Abstract: Rare earths are key mineral resources that support high-end technological innovation and the development of emerging industries, and they hold significant strategic importance. An analysis of the evolution of the global rare earth industry chain product trade network pattern and China’s trade status is conducive to optimizing the current situation of global rare earth product trade and providing a reference basis for China to formulate trade and investment policies for rare earth products. Based on the perspective of the rare earth industry chain, this paper uses the global trade data of 12 rare earth industry chain products from 2014 to 2023 to construct a directed weighted trade network model covering 238 countries （regions）, analyzes the overall and individual spatio-temporal evolution characteristics of trade, and further studies China’s status in global rare earth product trade. The results show that: ①the trade closeness of upstream products is the strongest, and the degree of differentiation is the most unstable. China, Germany and the United States are in a relatively active state; China plays the role of “intermediary and bridge” in the trade network of rare earth raw ore products, but its trade stability is insufficient, and its flexibility and autonomy are relatively weak. ②The trade closeness of midstream products is the weakest, and the degree of differentiation shows a downward trend. European countries such as Germany and Belgium are in a dominant status. China’s trade stability among them is relatively strong, but its flexibility and autonomy are relatively weak. Its trade control over rare earth salts has gradually weakened, but its trade control over rare earth metals, cerium compounds and rare earth oxides has continuously strengthened. ③The trade closeness of downstream products is relatively strong, and the degree of differentiation is the most stable. China, Germany, the United States, Spain and Italy are the most active. China’s control over it has been continuously strengthening, and it has certain regulation and influence on the trade network of fluorescent, polished, ferroalloy and rare earth permanent magnetic products. China’s ability to apply structural holes has been improving year by year, and its flexibility and autonomy have been increasing year by year.