In a bold move, the Chinese mainland is rolling out new export controls on select rare earth-related items to boost global security while keeping trade channels smooth. Announced on April 4 by the Ministry of Commerce and General Administration of Customs, these measures target seven types of medium and heavy rare earths that serve both military and civil purposes.
The China Nonferrous Metals Industry Association emphasized that the controls draw on international practices and are designed to protect national sovereignty, security, and development interests. Companies that operate within these guidelines will not see disruptions in their normal business operations or the stability of global industrial and supply chains.
Moreover, rare earth enterprises are set to uphold a higher standard of openness, continuing their mutually beneficial partnerships with friendly countries. This move underlines the Chinese mainland's commitment to balancing resilient security measures with dynamic international trade. ⚖️🌍
Stay tuned for more updates as global trade continues to navigate the fine line between economic growth and strategic security!
Reference(s):
Industry body: China's rare earth export control to safeguard security
cgtn.com
