Waheed Mahmood
Says quota cut in line with WTO
BEIJING: China defended its export controls on rare earth minerals on Thursday, saying that they were in line with World Trade Organization rules, after a government move to slash export quotas on rare earths sparked trade concerns.
China, which produces about 97 per cent of the global supply of the metals used in the production of numerous high-tech products, cut its export quota by 35 per cent for the first half of 2011 compared with a year earlier, saying it wanted to conserve reserves.
Foreign Ministry spokeswoman Jiang Yu reiterated at a regular news briefing in Beijing that the quotas were necessary for environmental protection.
“This accord with relevant WTO rules,” she said. “In the future, China will continue to supply rare earths to the international market and will take effective management steps over their export in accordance with WTO rules.”
China, which produces about 97 per cent of the global supply of the metals used in the production of numerous high-tech products, cut its export quota by 35 per cent for the first half of 2011 compared with a year earlier, saying it wanted to conserve reserves.
Foreign Ministry spokeswoman Jiang Yu reiterated at a regular news briefing in Beijing that the quotas were necessary for environmental protection.
“This accord with relevant WTO rules,” she said. “In the future, China will continue to supply rare earths to the international market and will take effective management steps over their export in accordance with WTO rules.”
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