On December 28, 2020, the annual meeting of rare earth alloy branch of China Rare Earth Industry Association and the seminar on application technology of rare earth in metal materials were held in Suzhou. The chairman of the company, Professor Yang Qing, was invited to attend and give a special report on "building rare earth industry chain system, promoting the development of rare earth special steel and rare earth magnesium alloy". The report combines the application of rare earth in special steel and magnesium alloy This paper expounds the current situation and existing problems of rare earth application in China, and puts forward a new idea and idea of focusing on development and collaborative cooperation in the industry chain of rare earth application industry, which resonates greatly among the delegates and has been widely approved.