Golden Finance reported that at the regular press conference held by the Ministry of Commerce today, He Yadong, the spokesperson of the Ministry of Commerce, responded to issues related to rare earth exports. He Yadong said that as a responsible major country, China has fully considered the reasonable demands and concerns of various countries in the civilian sector, and has reviewed the export license applications for rare earth-related items in accordance with laws and regulations. Currently, a certain number of compliant applications have been approved in accordance with the law, and China will continue to strengthen the approval of compliant applications.
On April 4th of this year, the Ministry of Commerce of China, in conjunction with the General Administration of Customs, issued an announcement, deciding to impose export controls on seven types of medium and heavy rare earth related items, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium, aiming to safeguard national security and interests and earnestly fulfill international non-proliferation obligations. Rare earth-related items have significant dual-use attributes for both military and civilian purposes, and imposing export controls on them is a common international practice.
Since the implementation of export control measures, the global market has been highly concerned about the supply situation of rare earths. With the rapid development of emerging industries such as robots and new energy vehicles, the demand for medium and heavy rare earths in the civilian field in various countries has been continuously rising. While strengthening export control, China has always attached great importance to ensuring the smooth progress of compliant trade. The approval of a certain number of compliance applications this time demonstrates China’s efforts to seek a balance between safeguarding national security and meeting the reasonable demands of the international market.
Previously, at least six enterprises have obtained the export license for rare earth dual-use substances issued by the Ministry of Commerce. Additionally, the approval process for rare earth export licenses of several listed companies is constantly advancing. For applications that meet the regulations, China approves them in accordance with the principle of acting in accordance with laws and regulations. This not only reflects China’s strictness in the management of rare earth exports, but also demonstrates China’s attitude of actively promoting convenient and compliant trade.
Looking ahead, China will continue to advance the approval process for export license applications related to rare earths in accordance with laws and regulations. On the basis of safeguarding national security and interests, it will fully meet the reasonable demands of various countries in the civilian sector and contribute to the stability and development of the global rare earth industry chain.
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