China tightens export controls on rare earths, a group of chemical elements essential for producing electric vehicles and some weapons (including missiles), requiring exporters to report their type and destinations. In a note, the Ministry of Commerce specified that the tightening will last two years (October 2023-October 2025). The move, a few days before the San Francisco summit between Presidents Joe Biden and Xi Jinping, adds to the restrictions recently decided by Beijing on shipments of gallium, germanium and various types of graphite. China boasts 70% of the world’s production of rare earths.
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2023-11-07 18:16:00
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