China to contemplate reinforcing controls on rare earth exports
By David McMullan CEO of China Consulting Solutions
The Chinese government will deliberate as to reinforcing controls on exports of rare earths (seventeen chemical elements utilised in high-tech consumer electronics and military equipment) to defend and better utilise such "strategic resources" the government reported.
Escalating tensions between America and China have generated concerns that Beijing could use its prevailing position as a supplier of rare earths for influence in the trade war between the two nations.
Specialists attending an assembly held by the National Development and Reform Commission recommended forming a apparatus to track and appraise the entire process of rare earth exports, while clamping down on illegal manufacture and trafficking of the minerals to safeguard the environment.
"China should accelerate green and intelligent transformation of the rare earth sector, fully utilise its value and effectively promote the high-quality development of the resource," the NDRC said in an announcement.
Xi Jinping's visit to a rare earths plant in May helped generate the conjecture.
China supplied 80% of the rare earths imported by America from 2014 to 2017.