Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
China’s Handset Shipments Plummet Nearly 40% in January
China Has More Billionaires Than U.S. And India Combined: Hurun Report
Didi to Launch Food Delivery Service in Japan
NIO Strikes Government Deal with New Headquarters and New Funding Plan
Daimler Slims Down China Venture in Global Cost Saving
U.S. Transport Agency Bans Employees From Using TikTok For Work
Huawei Launches New Foldable Smartphone, Targets Android Market with HMS
Industries Switch Up Production Processes to Use Byproducts to Produce Medical Supplies
China Plans to Mass Produce Driverless Cars by 2025 Later Than Previous Forecast
U.S. Companies Fluctuate on Wall Street as Covid-19 Hits Their 2020 Forecasts
Snack Shop Serves Up First IPO from Wuhan Since Covid-19 Outbreak Took Hold
Chinese AI Firm Laiye Secures $42 Million in Series C Funding Round
Japan’s Finance Minister Expresses Concerns Over China’s Digital Yuan
U.S. Allows China’s iFlyTek to Resume Purchases of American-Made Medical Products During Outbreak
China Accounts For Nearly Half of All Global 5G Smartphone Shipments in 2019: Research
Xiaomi-Backed Smart Home Cleaner Maker Raises $641 Million in Shanghai IPO
Foxconn Allows Henan Workers to Return to Its Zhengzhou Complex
Alibaba-Owned Livestreaming Platform Taobao Live Sees Rapid Growth Amid Outbreak
Lenovo Charges Up Investors by Playing Down Virus Impact
Huawei ‘Disappointed’ After U.S. Court Rejects Its Federal Ban Challenge
China’s Rare-Earth Exports Continue to Shrink

By Teng Jing Xuan / Jun 10, 2019 01:11 PM / Economy

Photo:Photo: U.S. Department of Agriculture

Photo:Photo: U.S. Department of Agriculture

China’s rare-earth exports are getting rarer.

The country’s exports of the metallic elements fell 18.2% in May from the same period last year, marking the second month of negative export growth for the world’s largest producer of the materials, which are used in industries including defense, oil and consumer electronics.

The country exported 3,639.5 tons of rare earths in May, down from 4,447 tons a year ago and a 16% decrease from April, according to data released Monday by the General Administration of Customs.

China’s rare-earth exports showed slowing growth and domestic output declined in 2018 amid a crackdown on illegal mining.

Nevertheless, the country still accounts for 90% of the world’s supply of rare earths, prompting speculation that Beijing may restrict export of the materials to the U.S. to gain the upper hand in the ongoing trade conflict between the two countries.

Related: China Warns Against Use of Rare Earths to ‘Suppress Its Development’

Contact reporter Teng Jing Xuan (jingxuanteng@caixin.com)

Share this article
Open WeChat and scan the QR code