In a move to safeguard global supply chains and meet surging demand for critical tech materials, the Chinese mainland is ramping up its review process for rare earth export licenses.
At a recent press briefing, Ministry of Commerce spokesperson He Yadong said the Chinese mainland has consistently placed great importance on maintaining stability and security across global industrial and supply chains. With demand for rare earth elements on the rise, the ministry is accelerating its review of export license applications in line with relevant laws and regulations.
He noted that a number of compliant applications have already been approved and that the Chinese mainland will continue to strengthen its review and approval efforts. The ministry also expressed willingness to enhance communication and dialogue with trading partners to facilitate compliant trade.
Rare earth elements are vital for modern technologies—from smartphones and electric vehicles to renewable energy systems—making stable and transparent export processes crucial for the global economy. By fast-tracking license reviews, the Chinese mainland aims to keep its industrial and supply chains responsive and resilient as the world shifts toward decarbonization and digitalization.
Reference(s):
cgtn.com
