China Sees 23% Surge in Rare-Earth Exports in May

China's exports of rare earths saw a significant increase in May, rising by 23 percent compared to April, reaching a total of 5,864.60 tons. This boost contributed to a total export volume of 24,827 tons from January to May, marking a year-on-year growth of 2.3 percent, as reported by the General Administration of Customs.
Analyst Wu Chenhui noted that the export levels are in line with China's foreign trade policies and recent measures taken to cater to the growing global demand for rare earth materials.
Research director Wang Guoqing from the Beijing Lange Steel Information Research Center emphasized that China's regulatory framework on rare earths adheres to international standards, reinforcing the country’s commitment to global norms.
Rare earths, vital for both military and civilian purposes, are employed extensively across essential sectors including aerospace, new energy, lasers, and radar technologies. Wang pointed out that many nations, like the EU and the US, consider these minerals critical resources, underscoring China's justified approach toward their regulation.
Chinese Foreign Ministry spokesperson Lin Jian responded to inquiries about potential green channels for rare earth exports to other nations. Recently, China expressed readiness to expedite approval processes for rare earth magnets destined for Europe.
During a meeting between Chinese Commerce Minister Wang Wentao and EU Commissioner Maros Sefcovic, a suggestion was made to facilitate the establishment of a green channel aimed at speedier approval of rare earth applications.
Furthermore, a spokesperson from the Ministry of Commerce (MOFCOM) addressed concerns regarding China's export controls on rare earths, clarifying that these measures are implemented legally to defend national security while also meeting international obligations such as non-proliferation.
This series of initiatives and statements highlights China's unwavering commitment to maintaining regional stability and global peace through its management of rare earth resources.
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