China on Wednesday issued a white paper on its rare earth industry, the first of its kind in the country, as the world's largest rare earth producer strives to better protect the valuable resources.

The white paper, titled "Situation and Policies of China's Rare Earth Industry," was released by the Information Office of the State Council, or China's cabinet.

China will continue to follow the World Trade Organization rules, strengthen scientific management of this industry and supply rare earth products to the global market, the white paper said.

"Some countries have been particularly fretful about the situation of China's rare earth industry and related policies, doing a lot of guesswork and conjuring up many stories," it noted.

The white paper said its publication was aimed at giving the international community a better understanding of China's rare earth industry and policies.