TMTPOST -- China on Thursday defended its stance on export controls rare earth as reports about Beijing』s tightening control on critical minerals went viral.
Credit：Shanghai Observer
「China』s export control measures are consistent with universal practices. Such measures are non-discriminatory and not targeted at any particular country,」 commented Chinese foreign ministry spokesperson Lin Jian during a daily press conference on Thursday, when asked about Japanese automaker Suzuki has suspended production of its main small cars in Japan because of delays in procuring parts resulting from China』s export controls on rare earth, which has been reported as the first case in the developed economy.
The Chinese government reviews applications for rare earth export licences in accordance with relevant laws and regulations, and approves compliant applications,said He Yong qian, a spokesperson for China』s Ministry of Commerce (MOFCOM) in response to a journalist query regarding China's rare earth export licensing.
Rare earths and related items have obvious dual-use attributes as they can be used for both military and civilian purposes, the state news agency Xinhua cited the spokesperson on Thursday. Imposing export controls on these items is a common international practice, noted the spokesperson.
A day prior to the spokesperson's remarks, Reuters cited sources China has introduced a tracking system for its rare earth magnet sector as its export restrictions on them begin to cut off customers around the world. As the world』s largest rare earth magnet supplier and exporter, China introduced the national tracking system requiring producers to submit extra information online including trading volumes and client names, according to the report on Wednesday. It was reported that China unveiled plans to establish the tracking system for rare earth products last June, but it just went into effect last week.
