China assured Germany that it would maintain supplies of critical raw materials and rare earth metals. This was stated by the finance minister of this European country, Lars Klingbeil, commenting on the results of his four-day trip to Asia. He was quoted by Bloomberg.
According to him, he received a clear commitment from the Chinese side, which Berlin will remind Beijing of if necessary.
The agency noted that Germany and China are trying to put an end to the tension that has escalated between the two countries in recent months, after the PRC tightened export controls, while the German Foreign Ministry postponed the planned visit of its head to China.
It is also emphasized that Klingbeil was sparse on details, and therefore it is unclear whether Beijing will fulfill its promises. This is particularly important as Germany and the European Union have very little leverage over the Chinese side. At the same time, the Federal Republic of Germany is considered the largest buyer of Chinese rare earth magnets. And while their exports to the U.S. increased in October, reaching a peak since January, supplies to Germany have decreased for the second consecutive month.
It is also noted that Klingbeil visited China not only to address the issue of access to critical raw materials. Another task was to persuade the PRC to influence the Russian authorities regarding the conflict in Ukraine. However, as Bloomberg writes, the finance minister's appeals were unsuccessful.
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