🔒 On October 9, the Chinese mainland rolled out new export controls on certain rare earth-related items containing Chinese-origin components, effective immediately. The move aims to safeguard both national and international security, the Chinese Ministry of Commerce (MOFCOM) announced.
But why target rare earths? These key minerals power everything from smartphones and electric vehicles to advanced defense systems. According to MOFCOM, some foreign organizations have been using Chinese-contained rare earth items for sensitive military applications, posing risks to national security, regional stability, and global non-proliferation efforts.
To tackle these threats and uphold its international commitments, the Chinese mainland will require export licenses for related items. However, it's not a blanket ban 🚫. Legitimate civil uses can still get approval, and humanitarian exports—like emergency medical care, public health responses, and disaster relief—are exempt from licensing requirements.
MOFCOM also made sure to assess the impact on industry and supply chains in advance and says any disruptions will be minimal. Plus, the measures were shared with relevant countries and regions through bilateral dialogues before being announced.
"I want to emphasize that these export controls are not export bans. All applications for compliant export for civil use can get approval, so businesses have no need to worry," a MOFCOM spokesperson explained.
🌍 In short, by keeping a closer eye on where these crucial minerals go, the Chinese mainland is locking 🔒 potential threats out while keeping the doors open for the global economy and humanitarian efforts.
Stay tuned to see how strategic minerals like rare earths will shape the future of tech and security! ⚙️🔋
Reference(s):
Rare earths: How do China's export controls relate to security?
cgtn.com
