China signals readiness on rare earth talks, approves more exports
China has approved some qualified rare earth export applications and is ready to deepen dialogue with nations over export controls, the Ministry of Commerce said as the strategic resource continued to take centre stage in Beijing's trade negotiations with the United States.
'We've observed growing global demand for medium and heavy rare earths in civilian sectors such as robotics and new energy vehicles, as these industries continue to expand,' the ministry said in a statement posted on its official website on Saturday.
It added that, as 'a responsible major power', China had taken the legitimate civilian needs of other countries into account, approved qualified export applications in line with the law, and would continue strengthening its compliance review process.
'China is willing to enhance communication and dialogue with relevant countries on export controls in order to facilitate compliant trade,' the ministry said.
Rare earths – a
long-held ace for Beijing in its dealings with Washington – are at the heart of the China-US trade tug of war. Vice-Premier He Lifeng is expected to attend the first meeting of the US-China bilateral economic and
trade consultation mechanism during his trip to London from Sunday to Friday.
China, the world's largest producer of
rare earths , accounts for around 70 per cent of global rare earth mining and around 90 per cent of the refining of the minerals. The minerals are essential for making consumer electronics, electric vehicles and hi-tech defence systems.
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