China bolsters export controls

CHINAS commerce ministry announced new controls yesterday on the export of rare-earth technologies and items, adding to existing regulations on the critical industry that has been a key source of tension between Beijing and Washington.

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China is the world’s leading producer of the vital minerals used to make magnets crucial to the auto, electronics and defence industries, and since April it has required licences for certain exports of the materials, hitting global manufacturing sectors.

Rare earths have been a major sticking point in recent trade negotiations between China and the US, with Washington accusing Beijing of slow-walking export licence approvals.