China is speeding up the review and approval of export licenses for rare earth elements to help keep global industries running smoothly, the Ministry of Commerce announced on Thursday.
“We have approved a number of compliant applications and will continue to strengthen our review process,” said ministry spokesperson He Yadong at a press conference discussing rare earth exports.
Rare earth elements are a group of 17 minerals essential for making high-tech products like smartphones, laptops, and electric vehicles. As the world’s largest producer of these materials, China’s actions greatly impact the availability of technology around the globe.
“China is willing to enhance communication and dialogue with other countries on export controls and actively promote compliant trade,” He added.
This move shows China’s commitment to supporting global industries and ensuring that people everywhere can continue to access the technology they rely on.
