China's Ministry of Commerce recently announced that it will add rare earth, subject to export license management, to the Catalog of Energy Resource Products Subject to Export Reporting, with crude oil, iron ore, copper concentrate and potash fertilizer being placed on the Catalog of Energy Resource Products Subject to Import Reporting.

The Ministry of Commerce has entrusted China Chamber of Commerce of Metals, Minerals & Chemicals Importers & Exporters (CCCMC) to be responsible for collecting, sorting, summarizing, analyzing and verifying the reported import and export information of the above-mentioned five categories of energy resource products. The new requirements will last for two years starting from October 31, 2023 to October 31, 2025.