The Ministry of Commerce of China File photo: VCG

When asked to brief the current progress as China has reportedly begun designing the new rare earths export licensing regime, the timeline for the new regime's rollout as well as entities eligible for such license, He Yadong, a spokesperson for the Ministry of Commerce (MOFCOM), said on Thursday at a press conference that China conducts export control over rare earth-related items in accordance with laws and regulations. As a responsible major country, China is committed to both safeguarding national security and interests, fulfilling international obligations such as non-proliferation, and upholding the security and stability of global production and supply chains.

Global Times