China’s Ministry of Industry and Information Technology (MIIT) on Tuesday released a draft outlining how administrative penalties should be applied to violations in rare earth mining, smelting and related activities under the Regulations on the Administration of Rare Earths, and is inviting public feedback.

According to a notice published on the ministry’s website, the draft aims to better implement the regulations, standardize law enforcement in the rare earth sector, and strengthen law-based governance.

The document specifies the legal basis, penalty standards and applicable conditions for six categories of violations. It also introduces a four-tier system for enforcement discretion based on the severity of offenses: no penalty, lenient penalty, standard penalty and severe penalty.

Covered violations include breaches of total quota control rules in rare earth mining and smelting and separation; unauthorized entities or individuals engaging in smelting and separation activities; and rare earth comprehensive utilization enterprises using rare earth mineral products as production inputs.

Other violations include the purchase, processing or sale of illegally mined or smelted rare earth products; failure by enterprises to accurately record and upload product flow data to the traceability system; and refusal to cooperate with, or obstruction of, lawful inspections by regulators.

Penalties may include the confiscation of illegal gains, illicit products and equipment directly used in unlawful activities, along with fines of varying degrees. In serious cases, business licenses may be revoked, the draft states.

Public feedback can be submitted via mail, email or fax through May 28, 2026, according to the MIIT notice.

In recent years, China has introduced multiple policies and measures in aspects including industry entry standards, sector consolidation, and environmental protection, which effectively promoted the sustainable and healthy development of the industry. 

In October 2024, the regulations on rare earth administration in China took effect, aimed at promoting the high-quality development of the rare earth industry while maintaining the safety of national resources and industries.

Starting from midnight on April 21, China's retail prices for gasoline and diesel will be reduced by 555 yuan ($81.40) and 530 yuan per ton, respectively, in accordance with changes in international oil prices, the National Development and Reform Commission (NDRC) said on Tuesday.

This round of price adjustments marks the eighth pricing window of this year and also the first reductions since the beginning of this year, China Media Group (CMG) reported.

Nationally, the average equivalent reductions per liter are 0.44 yuan for 92-octane gasoline, 0.46 yuan for 95-octane gasoline, and 0.45 yuan for 0-diesel. Filling a 50-liter tank with 92-octane gasoline will cost 22 yuan less, the CMG report said.

According to the NDRC, since the last price adjustment on April 7, international crude oil prices have experienced sharp fluctuations. After a significant decline in recent days, they rose considerably again on April 20.

However, the average price over the 10 working days prior to the coming adjustment remains lower than that of the 10 working days before the previous adjustment, said the NDRC.

CNPC, Sinopec, CNOOC, and other crude oil processing enterprises should organize the production and transportation of refined oil products to ensure stable market supply and strictly implement the government's pricing policies. Relevant departments in the country should strengthen market supervision and inspection, severely penalize any violations of the policies, and maintain normal market order, said the NDRC.

"This price cut reflects the short-term decline in international crude oil prices, allowing domestic fuel prices to better align with market changes. It will help ease cost pressures on consumers and businesses," Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, told the Global Times on Tuesday.

China has stepped in to regulate refined oil prices twice, in a move aimed at shielding the economy and consumers from recent spikes in international crude prices.

Effective from midnight on March 23, the commission adopted regulatory measures on refined oil prices. This marked the first regulatory intervention since the mechanism was introduced in 2013, the Xinhua News Agency reported.

On April 7, the NDRC said that it would continue to regulate refined oil prices to cushion the impact of rising international crude oil prices on the domestic market.

According to an NDRC notice in 2013, in special circumstances -- such as a significant rise in the overall domestic price level, the occurrence of major emergencies, or sharp fluctuations in international oil prices over a short period -- that necessitate adjustments to refined oil product prices, temporary regulatory measures shall be implemented in accordance with the law. Upon approval by the State Council, as requested by the NDRC, price adjustments may be suspended, postponed, or the magnitude of such adjustments reduced.

Lin said that the two changes in oil prices represent precise, moderate, and responsible moves. "Under special circumstances, they serve as an effective 'shock absorber,' safeguarding the stability of market supply while preventing excessively rapid oil price increases from triggering a chain reaction of impacts on downstream industries," the expert noted.

"The escalation of the US-Iran conflict and disruptions to shipping through the Strait of Hormuz pose a significant systemic shock to energy security across Asia. However, we believe that China's energy system has stronger buffering capacity compared with most other Asian economies," Jenny Huang, senior director of Asia-Pacific corporate ratings at Fitch Ratings, said in an analysis sent to the Global Times on Tuesday.

Huang noted that China's crude oil import sources are relatively diversified, and the country maintains substantial commercial inventories and strategic petroleum reserves, which can effectively cushion short-term supply disruptions caused by the conflict.

In addition, major state-owned energy enterprises in the upstream sector bear the responsibility of ensuring supply and stabilizing the market under high oil price environments, thereby further reducing the risks of supply volatility, she said.

China's State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the country's state assets regulator, has newly established the bureau of overseas state-owned assets, the Xinhua News Agency reported on Wednesday.

According to the official website of the SASAC, the main responsibilities of the new bureau include guiding the supervised enterprises in their international operations and optimizing the layout, structure, and adjustment of overseas assets; undertaking supervision of overseas assets of the supervised enterprises; strengthening risk prevention and mitigation in areas such as overseas investment and operations; and handling matters related to overseas emergencies and crisis response.

The bureau has established internal divisions including the international operations division, the risk prevention and mitigation division, the supervision and governance division, and the emergency management division, according to the official website.

"One responsibility of the new bureau primarily is to respond to changes in the current international situation, including recent tensions in the Middle East. By establishing this bureau, China can strengthen the prevention and resolution of risks related to overseas investment and operations. 

"In particular, when sudden incidents or crises occur abroad, the agency will be able to promptly handle relevant matters and prevent major losses of state-owned assets in overseas investments," Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Wednesday.

China's central state-owned enterprises maintain more than 8,000 institutions and projects in more than 180 countries and regions worldwide, with overseas assets exceeding 9 trillion yuan ($1.31 trillion), according to Li Zhen, deputy head of the SASAC.

As the high-quality development of international cooperation initiatives such as the Belt and Road Initiative continues to advance, central state-owned enterprises (SOEs), acting as the main force, have built up overseas assets amounting to several trillion yuan. However, the previous decentralized management model has become inadequate to cope with the complex international environment, Li Jin, chief researcher at the China Enterprise Research Institute in Beijing, told the Global Times on Wednesday.

Li Jin added that in recent years, the global geopolitical landscape has undergone profound adjustments, placing unprecedented pressure on central SOEs' overseas projects in terms of investment security and asset preservation. "There is an urgent need for a dedicated institution to coordinate and manage these efforts," Li Jin noted.

As to enterprises, Yang said that the bureau will guide the specific operations and strategic direction of overseas investments, making the investment layout more scientific and rational, thereby improving the success rate of investments and avoiding potential risks. This represents an important measure to achieve the preservation and appreciation of state-owned assets, Yang noted.

"This new bureau not only responds to the practical needs arising from the internationalization of central enterprises, but also strengthens the bottom line for safeguarding state-owned assets, while serving the nation's overall opening-up strategy," Yang said.

In the outline of the 15th Five-Year Plan (2026-30) for national economic and social development, it noted efforts to improve the state-owned assets supervision system and better leverage the role of state-owned capital investment and operating companies. 

The outline said that efforts should be made to implement outbound investment management, strengthen the overseas comprehensive service system, promote the integration of trade and investment, and guide the rational and orderly cross-border layout of industrial and supply chains. 

In addition, it stressed the need to improve the mechanisms and legal frameworks for monitoring, preventing, controlling, and addressing risks in outbound investment, and encourage enterprises to enhance their risk prevention and control capabilities as well as compliance management.

On April 16, a fishing boat from China’s Taiwan region caught fire at approximately 76 nautical miles northeast of Huangwei Yu. 7 crew members were aboard the boat at the time of the incident. China Coast Guard (CCG) vessel on routine patrol duty immediately rushed to the affected waters to extinguish the fire and conduct search and rescue operations, according to a statement published by the CCG on Friday. 

As of now, 6 crew members have been rescued. Relevant rescue efforts are still ongoing.  In accordance with the law, CCG will continue to protect the safety of life and property of Chinese fishermen , including those from the Taiwan region, and will effectively safeguard the normal navigation and operational order in the relevant waters, the statement said.

Resolving the Taiwan question is a matter for the Chinese people themselves, with no room for external interference, Zhu Fenglian, a spokesperson for the State Council Taiwan Affairs Office, told a press briefing on Wednesday, in response to a question from a Global Times reporter regarding the "joint statement" issued after the meeting between Japanese Prime Minister Sanae Takaichi and French President Emmanuel Macron, which claimed the importance of peace and stability in the Taiwan Straits and was thanked by the Taiwan island's so-called "foreign affairs department." 

The so-called "joint statement" makes irresponsible remarks on the Taiwan question and interferes in China's internal affairs, which we firmly oppose, said Zhu.

Zhu's response came after Takaichi and Macron issued a joint statement on April 1, which claimed to "urge the peaceful resolution" of Taiwan question through constructive dialogue, according to the Nikkei.

Li Zhenguang, director at the Institute of Taiwan Studies at Beijing Union University, told the Global Times on Wednesday that Takaichi has taken a willful and obstinate stance on Taiwan question and even attempted to rally other countries to support her stance.

Spokesperson Zhu stressed that the countries concerned must abide by the one-China principle and stop sending wrong signals to "Taiwan independence" separatist forces.

The Democratic Progressive Party (DPP) authorities' attempt to split the country by relying on external forces is doomed to failure, Zhu added.

Li also said that one of the root causes of the tensions in the Taiwan Straits lies in the instigation of external forces such as Japan, and the provocative actions of the DPP authorities are growing increasingly brazen due to such external support.

China and the US will maintain communication on their respective concerns through the economic and trade consultation mechanism, a spokesperson of China's Ministry of Commerce (MOFCOM), said on Thursday.

The remarks were made at a regular press conference on Thursday when He Yadong, the MOFCOM spokesperson, was asked by foreign reporters to comment on reports that US Trade Representative Jamieson Greer would engage with Beijing in working-level dialogues. He was also asked whether there are any plans or discussions to further extend the rare-earth export control measures beyond October 9.

The spokesperson said that, according to the consensus reached during the China-US economic and trade consultations in Kuala Lumpur, the relevant export control measures announced by the Chinese side on October 9, 2025, have been suspended until November 10, 2026.

Also at Thursday's regular press conference, another foreign reporter asked for comment on reports that Greer claimed that the US currently has access to Chinese rare earths but is still promoting multilateral agreements to increase expected supply, and on whether the US should be concerned that China might reimpose restrictions on rare-earth exports to the US.

In responding to the inquiries, He said that China is always committed to maintaining the security and stability of the global industrial supply.

On a further note, the spokesperson said that China fully takes into account the reasonable demands and concerns of the global civilian sector, including that of the US, and actively facilitates compliant trade. Export applications meeting the conditions for legitimate civilian use will be approved in accordance with the law, said He.

China has continuously maintained communication with the US on rare-earth issues, demonstrating its consistent stance of resolving trade matters through dialogue, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Thursday.

It also reflects China's efforts as a responsible major country to ensure the security and stability of global industrial and supply chains, said Zhou.

China has consistently adhered to the principles of openness, coordination, and shared benefits in promoting the development of the rare-earth industry. This approach not only meets the needs of domestic economic and social development but also actively expands global partnerships, making an important contribution to global rare-earth supply and the advancement of the world economy, the expert stressed. 

On Wednesday, in responding to a similar question from a foreign reporter on China-US trade of rare earths, Chinese Foreign Ministry spokesperson Mao Ning said that China-US economic and trade relations are essentially mutually beneficial and win-win in nature, noting that both sides should jointly implement the important consensus reached by the two heads of state, so as to provide greater stability for bilateral economic and trade cooperation. 

Commenting on China and the US maintaining communication on their respective concerns through the economic and trade consultation mechanism, Gao Lingyun, a research fellow at the Chinese Academy of Social Sciences, told the Global Times on Thursday that it is always positive for the world's two largest economies to sit down and discuss relevant trade issues through dialogues and consultations as healthy economic and trade relations benefit not only the two countries but also the world.

About 30 leading Chinese automakers, parts suppliers and auto material companies have jointly established a new Strategic Materials Innovation and Application Platform in Beijing to address critical "chokepoint" material problems in the automotive industry, China EV100, an initiator of the platform, said in a statement on Monday.

Industry analysts said that the total number of components in a vehicle often exceeds 10,000, making the safety of the domestic industrial supply chain particularly important.

The platform's goal is to build a comprehensive collaborative innovation system, covering vehicle manufacturers, parts suppliers, material companies, technology, standards, and supply chains, helping accelerate the application of advanced new materials in the automotive sector.

The initiative also aims to provide strong support for the security and self-reliance of China's strategic new materials, media reported.

Attending companies include BYD, Geely, SAIC, Dongfeng, Li Auto, PPG, Kingfa Science & Technology, KraussMaffei, China Salt Lake Group, Magna, Dow and others, according to the statement by China EV100, a non-profit organization and third-party think tank aimed at boosting the development of electric vehicle (EV) industry.

Among the participating companies, one Chinese tech company has achieved large-scale production of single-wall carbon nanotubes (a rolled structure of single-layer graphene), paving the way for key applications in new-energy vehicles (NEV) and aerospace. Another firm has developed high-tech composite materials that make automotive parts both lower-carbon and significantly lighter, according to CCTV News.

"We can achieve carbon reduction of 30 percent or even over 40 percent," Liu Yanwei, General Manager of Kingfa Science & Technology's Automotive Division, was quoted as saying.

Zhang Yongwei, Vice Chairman of China EV100, said at the launch ceremony of the platform that"the automotive industry has an extremely long industrial chain, and resources and materials are the most critical links.

"The establishment of this platform is mainly to solve the integration problem between the automotive industry and its supply chain. We need to strengthen strategic planning for raw materials, increase strategic reserves, and build early warning capabilities to ensure resource security," said Zhang Yongwei.

China still has relatively high dependence on foreign sources for certain key raw materials - lithium over 60 percent, nickel over 90 percent - posing challenges to supply chain stability. In addition, domestically produced automotive chips currently account for only about 20 percent of application in Chinese brand vehicles, CCTV News reported, citing industry experts.

New materials are listed as one of the eight strategic emerging industries in China's 15th Five-Year Plan (2026-30).

"The new platform will help translate cutting-edge material innovations into real-world applications across industries," Zhang Xiang, a visiting professor in the engineering department of Huanghe Science and Technology University, told the Global Times on Monday.

The launch of the platform was announced during the Intelligent Electric Vehicle Development Forum, hosted by China EV100, having generated representatives from multiple fields including government, automotive, energy, transportation, and technology gathered to discuss the development trends of the automotive industry.

Su Bo, former minister of industry and information technology, said at the forum on Sunday that, by 2030, NEVs will become the dominant force in China's automobile market, with domestic penetration rate likely to exceed 70 percent.

Tsinghua University Professor Ouyang Minggao said at the forum that, by 2030, new-energy passenger vehicles will account for 70 percent of annual new passenger car sales, which is expected to surpass 80 percent by 2035 and reach over 85 percent by 2040.

Question: According to reports, Japan's Minister of Defense announced the deployment of long-range missiles with "enemy base strike capabilities". Some analysts believe this deployment is clearly targeted at China. What's your comment on this?

Zhang Xiaogang: Japan's reckless and dangerously accelerated push for remilitarization is spiraling out of control. This is a complete betrayal of its pacifist Constitution and exclusively defense-oriented principle, laying bare its ambition for military expansion. The proliferation of neo-militarism in Japan has become a real menace. Should an evil tiger be unleashed from its cage, it would inevitably wreak havoc far and wide, and plunge the Japanese people into an abyss of disaster. The international community should stay on high alert against it. It must be underlined that as evil will never outgrow virtue, the Chinese military will always have sufficient capability to counter threats and provocations, make aggressors pay an unbearable price, and defend national sovereignty, security and development interests.