MOFCOM spokesperson He Yadong at a press conference on December 28, 2023 Photo: Tao Mingyang/GT

At a press conference of China's Ministry of Commerce (MOFCOM) on Thursday, a reporter asked about the key topics discussed at the first meeting of the China-US trade consultation mechanism, whether China raised demands regarding US high-tech restrictions, and how many rare earths export licenses China plans to approve this week. 

In response, MOFCOM Spokesperson He Yadong said that the two sides reached principled agreement on implementing the important consensus reached by the two heads of state during their phone call on June 5 and the framework of measures to consolidate the outcomes of the economic and trade talks in Geneva, and made new progress in addressing each other's economic and trade concerns.

Moving forward, both sides will further leverage the China-US trade consultation mechanism, continue to maintain communication and dialogue, enhance consensus, reduce misunderstandings, strengthen cooperation, and jointly promote the stable and sustained development of China-US economic and trade relations, He said.

In responding to the question about the rare earth issue, He said that as a responsible major country, China fully considers the reasonable demands and concerns of other countries in civilian applications. China reviews export license applications for rare earth-related items in accordance with laws and regulations, has already approved a certain number of compliant applications, and will continue to strengthen the approval process for compliant applications, the spokesperson said.

Global Times