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Rare earth permanent magnets (REPM) have been widely used in the energy, information and communication, and auto-mobile industries, as well as in electrical engineering, biomedical engineering, and other fields. In a great leap, China has advanced from being the country with the largest rare earth reserves to becoming the worlds largest production base and application market of REPM. In 2018, Chinas production of REPM green compacts amounted to 1.57 × 105 t, of which 2.69 × 104 t were exported. Chinas REPM industry is one of the most important industries in the world and holds great influence.