Link Securities | As reported by financial portal CNMB, China’s Ministry of Commerce on Saturday declared its readiness to establish a so-called “green channel” for eligible “rare earth” export licence applications to speed up the approval process for European Union (EU) companies.
A Commerce Ministry spokesperson said Wang expressed hope that the EU would take reciprocal measures to promote trade in compliant high-tech products with China. The development follows trade talks between Chinese Commerce Minister Wang Wentao and EU Trade Commissioner Maros Sefcovic in Paris, France, last week.
China also granted “rare earth” licences to suppliers of US auto giants General Motors, Ford and Stellantis, Reuters reported on Friday, citing unnamed sources. China’s Ministry of Commerce did not respond to a request for comment sent to it, the news agency said.
