China convened an unusually large meeting with foreign businesses in an effort to reassure them that its new rare earth export controls aren’t meant to restrict normal trade — evidence policymakers are trying to calm a backlash over the move.
Vice Commerce Minister Ling Ji told representatives from more than 170 foreign companies and business chambers on Monday that Beijing’s export curbs are a “responsible act” intended to protect world peace and stability, according to a ministry statement that didn’t identify the firms.
“China will continue to approve legitimate transactions according to law, and work to maintain the stability of ...