00:01China suspended expanded export controls on rare earths materials and equipment on Friday.
00:09The country's commerce ministry said increased curbs on lithium battery and super-hard materials were also stopped.
00:16Beijing had imposed the measures just under a month ago,
00:19but it said Friday suspensions were effective immediately and would apply through to November next year.
00:25The announcement confirmed and formalised an agreement reached after US President Donald Trump
00:30and Chinese leader Xi Jinping agreed to trade truce last month.
00:34Industry sources had earlier told Reuters China has begun designing a new rare earth licensing regime.
00:41They added it could speed up shipments,
00:43but likely won't lead to a complete rollback of restrictions as hoped for by Washington.
00:48The sources said Chinese authorities told some rare earth exporters
00:52they will be able to apply for new streamlined permits in the future.
00:57The export curbs have become Beijing's strongest leverage in its trade rivalry with Washington.
01:03China produces more than 90% of the world's processed rare earths and rare earth magnets.
01:09The ingredients are key for products ranging from cars to missiles.
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