China Moves to Control Rare Earths... "It's Just an International Standard"

Mention of Agricultural Product Import Reporting System: "Only the Scope Adjusted"

China's Ministry of Commerce, the main authority, described the newly announced regulation mandating the submission of export and import information on resources such as rare earths and iron ore as a "conventional method."

He Yadong, spokesperson for China's Ministry of Commerce, stated, "Establishing a reporting, statistical survey, and information disclosure system for the export and import of certain bulk commodities is an internationally accepted practice," adding, "This helps to timely grasp the export and import status of bulk commodities and assess trends."

He continued, "China has been implementing an import reporting system for certain agricultural products since 2008," and noted, "The system has operated well for 10 years, and it has not affected the trade process of enterprises or customs clearance efficiency."

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He also emphasized that the regulation only adjusts the scope of statistical target products, and that the reporting system, trade procedures, and customs clearance conditions remain the same as before.

On the 7th, China's Ministry of Commerce announced revisions to the "Bulk Commodity Export and Import Reporting and Statistical Survey System" regulations, requiring importers of crude oil, iron ore, copper concentrate, and potassium carbonate fertilizer?products that require import licenses?to submit real-time transaction information to stabilize trade. Exporters of rare earths will be required to submit export information. Buyers and sellers must send real-time shipping information, origin, contract date, transaction volume, and arrival time to the Chinese government. The revised regulation list took effect on the 31st of last month and will remain in force for two years.

This announcement marks the third regulation following the addition of gallium and germanium to the export control list in July and graphite last month.

This content was produced with the assistance of AI translation services.