China’s rare-earth export curbs strain magnet makers despite geopolitical leverage
China’s export restrictions on rare earths have bolstered its geopolitical hand but triggered steep losses and production cuts for its magnet manufa...
Starting December 1, China will ease visa restrictions for Shenzhen residents traveling to Hong Kong, allowing multiple entries per year.
The new policy, reported by Xinhua will grant Shenzhen residents the ability to stay in Hong Kong for up to seven days per visit, with the multiple-entry visas valid for one year.
This move reinstates a policy that was in place until 2015, when China imposed tighter restrictions, limiting Shenzhen residents to one trip per week to Hong Kong. The previous restrictions were introduced to address concerns over traders repeatedly crossing the border to exploit lower taxes in Hong Kong by reselling goods in mainland China.
Hong Kong is hopeful that the return to the more flexible entry policy will benefit sectors such as retail and hospitality, which rely heavily on mainland visitors. Hong Kong leader John Lee recently proposed further measures to attract mainland tourists as part of efforts to revitalize the city’s economy.
In a related move, China has also eased visa rules for Zhuhai residents, allowing them to visit Macao once a week for stays of up to seven days, effective January 1. Previously, Zhuhai residents could only visit Macao once every two months.
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China has warned Myanmar's Kachin rebels it will block rare-earth imports from their territory unless they halt an offensive on a key junta stronghold, raising fears over the global supply of critical minerals.
China has consolidated its rare-earth sector into two state-owned giants, tightened export quotas, and introduced new supply-chain tracking systems as part of a sweeping push to reinforce its global dominance in critical mineral processing.
Beijing has warned the Trump administration against restoring steep U.S. tariffs next month and signalled it will retaliate against countries that cut China out of supply chains through bilateral deals with Washington.
China’s export restrictions on rare earths have bolstered its geopolitical hand but triggered steep losses and production cuts for its magnet manufacturers, already hit by weak domestic demand and shrinking overseas sales.
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