China defended its export control measures on critical mineral supplies and urged the Group of Seven nations to respect market economy principles and international trading rules rather favouring “small cliques”, its foreign ministry said on Thursday.
The remarks followed an agreement by G7 leaders on Wednesday to step up coordination to cut their countries’ reliance on China for critical minerals and including plans to align stockpiling and expand the role of the International Energy Agency. “China’s efforts to standardise and improve its export control system are in line with international practices,” foreign ministry spokesperson Lin Jian said at a regular briefing.
“The aim is to better safeguard world peace and regional stability and to fulfill international obligations related to non-proliferation,” he added, urging the G7 leaders to cease “imposing rules of small cliques” that undermine the international economic and trade order. Western powers are racing to diversify supplies of metals vital to defence, technology and renewable energy and reduce dependence on China, after Beijing’s export curbs last year on permanent magnets disrupted various industries and exposed their reliance on a single source.
Without naming China, the G7 leaders said they are seeking to reduce dependence on any one supplier outside the grouping and partner countries for rare earths and permanent magnets to below 60% by 2030, with an ultimate goal of 50% “as soon as possible.”
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