MNI BRIEF:China To Approve Compliant Rare Earth Exports-Mofcom

China will approve export license applications for rare earths that meet relevant requirements in order to promote convenient and compliant trade, said He Yongqian, spokesperson for the Ministry of Commerce, responding to a reporter’s question on Thursday.

He noted that following the Sino-US Geneva Economic and Trade Talks on May 12, China has taken a responsible attitude, while the U.S. has implemented restrictive measures against China, adding that Beijing would take strong measures to safeguard its legitimate rights and interests if the U.S. insists on its own way, He added. 

Beijing is stepping up efforts to internationalise the yuan, aiming to boost its use in offshore investment and commodity pricing as global confidence in the U.S. dollar stumbles, advisors and economists told MNI. (See MNI: Beijing Pushes Yuan's Global Role)