After the European Union (EU) proposed rare earth element talks to China, the Chinese side urged a resolution to the issue involving the semiconductor company Nexperia.
Maro? ?ef?ovi?, the EU Commissioner for Trade and Economic Security, stated at a press conference on the 21st (local time), "During a video call with Wang Wentao, China's Minister of Commerce, I invited Chinese officials to Brussels, Belgium, to seek urgent solutions regarding China's strengthened export controls on rare earth elements, and Minister Wang accepted the invitation."
He added, "A swift solution is essential in a situation that is negatively affecting bilateral relations."
On October 9, China implemented additional export control measures on rare earth elements. The EU claims that, despite an agreement at a summit in July to apply a kind of "fast-track" process for rare earth exports destined for the EU, China has not properly upheld this commitment.
Meanwhile, the Chinese Ministry of Commerce announced that the recent call discussed not only rare earth export controls but also the Nexperia issue. Regarding this, Minister Wang stated, "China opposes the expansion of the concept of 'national security,'" and urged the EU to play a constructive role and called on the Netherlands to uphold the spirit of contracts and market principles. Nexperia is a Dutch subsidiary of the Chinese company Wingtech. The Dutch government recently froze its assets and intellectual property rights and stripped its management control, citing concerns over technology leaks.
Regarding rare earth export controls, Minister Wang emphasized, "China has improved its export control system in accordance with the law, which is a normal measure reflecting the role of a major country in safeguarding world peace and stability," and added, "China is striving to ensure the security of global supply chains."
According to the Chinese Ministry of Commerce, Commissioner ?ef?ovi? expressed that while he understands China's rare earth export controls, he hopes that applications from EU companies will be approved promptly during the implementation process. Regarding the Nexperia issue, he reportedly said that the EU would cooperate to strengthen communication between the Netherlands and China.
On the same day, at the request of the Netherlands, Minister Wang also spoke with Vincent Karremans, the Dutch Minister of Economic Affairs, to discuss the Nexperia issue. Minister Wang called for a "prompt resolution," while the Dutch side stated, "We will communicate with the Chinese side to find a constructive solution."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
