China tightens controls over rare earth exports, imports of key commodities including crude oil, iron ore

China has asked exporters to report transactions of strategically important rare earth metals and oxide products, as economic security remains high on the agenda for policymakers.

Importers of crude oil, iron ore, copper ore concentrates and potash fertiliser have also been asked to report orders and shipments, the Ministry of Commerce said on Tuesday.

The new requirements, an update on the commodity reporting regulations released by the National Bureau of Statistics in 2022, will last for two years starting from October 31.

Previously, 14 imported items fell under the reporting mechanism, including soybeans, rapeseed oil, formula milk powder, pork, beef and sugar.

Rare earths, though, are the only item on the export reporting list.