Beijing – Saba:
The Chinese Ministry of Commerce announced on Saturday that Beijing is willing to expedite the inspection and approval process for rare earth mineral exports to European Union companies and will issue a ruling on its trade investigation into brandy imports from the bloc by July 5.
Consultations on price compliance between China and the European Union regarding Chinese-made electric vehicles exported to the bloc have entered the final stage, but further efforts are needed from both sides, according to a statement from the Chinese Ministry of Commerce.
The ministry explained that these issues were discussed between Chinese Minister of Commerce Wang Wentao and EU Trade Commissioner Marussevic in Paris on June 3.
The ministry expressed its willingness to "open a green channel for eligible applications to expedite the approval process," noting that it attaches great importance to the EU's concerns.
The issue stems from China's decision last April to suspend exports of a wide range of rare earth minerals and related magnets, disrupting critical supply chains for automakers, aerospace and semiconductor companies, and military contractors worldwide, according to Al Mayadeen.
In a separate statement from the ministry also today, Beijing expressed its willingness to enhance communication and dialogue with relevant countries regarding rare earth export controls, acknowledging the increased demand from sectors such as robotics and electric vehicles.
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