Editor's PiCK
China Ministry of Commerce: "Some rare earth export applications approved... Screening to be further tightened moving forward"
Summary
- The Government of the People's Republic of China announced that some rare earth export applications have already been approved.
- It stated that rare earth export screening will be further strengthened going forward.
- It was mentioned that there is a global increase in demand due to the growth of robotics and electric vehicle industries.

The Government of the People's Republic of China has recently released an official position regarding rare earth export control measures. It stated that some export applications have already been approved and that reviews related to this matter will continue to be conducted with greater rigor.
On the 7th (local time), The Paper, a Chinese media outlet, reported that the Ministry of Commerce of the People's Republic of China announced on its website, "Rare earths are resources that can be used for both military and civilian purposes, and it is common internationally to set certain standards and procedures when exporting them."
The Ministry explained, "Recently, as industries such as robotics and electric vehicles have grown, global demand for rare earths has increased," and "China, as a responsible country, is reviewing the applications of companies wishing to export in accordance with the law." It further noted, "Some applications that meet the criteria have already been approved, and such screening will be further strengthened going forward."
Additionally, it said, "We will strengthen communication with relevant countries to ensure that exports within the legal scope can proceed smoothly."

Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.


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