China suspends rare earth export controls for a year
Following a meeting between Chinese President Xi Jinping and U.S. President Donald Trump in Busan, South Korea, on Oct. 30, China announced it will suspend for one year the export controls on rare earths, lithium batteries and related equipment that it had unveiled on Oct. 9. In a reciprocal move, the U.S. will suspend for one year its 50% or more "affiliates rule" for export controls, which was announced Sept. 29.
China, U.S. to suspend port fees for a year
As part of the same agreement, the U.S. will suspend for one year measures from its Section 301 investigation into China’s maritime, logistics and shipbuilding industries. In response, China will suspend its countermeasures for the same period, ending a dispute over recently imposed port fees.
U.S. inks mineral pacts with Asian allies
The U.S. has signed cooperation frameworks on critical minerals and rare earths with Japan, Thailand and Malaysia, moves seen as an effort to build a supply chain alliance to counter China’s export controls in the sector. The pact with Japan was signed Oct. 28 during a meeting between Trump and Japan’s new Prime Minister Sanae Takaichi. Trump had previously signed memorandums of understanding with Malaysia and Thailand on Oct. 26.
China’s imports of U.S. oil and gas may resume
Trump announced on social media Oct. 30 that China has agreed to begin the process of purchasing energy products from the U.S. following his meeting with Xi. Trump said a deal to buy oil and gas from Alaska is possible and that talks will be held by energy officials from both sides. China has not made an official statement on the matter.
15th Five-Year Plan to boost new energy supply
Proposals for China’s 15th Five-Year Plan (2026–2030), released Oct. 28, call for continuously increasing the proportion of new energy in the country’s supply mix. The plan aims to replace fossil fuels in an orderly manner, build a new type of power system and achieve the goal of peaking carbon emissions on schedule.
Fund for strategic industries raises 51 billion yuan
A special fund for the development of strategic emerging industries has raised 51 billion yuan ($7 billion) in its first fundraising phase. The fund, initiated by the State-owned Assets Supervision and Administration Commission and managed by China Reform Holdings Corp. Ltd., will have a term of up to 15 years.
Lithium giants return to profit as prices rebound
A rebound in lithium prices helped major producers Tianqi Lithium Industry Inc. and Ganfeng Lithium Group Co. Ltd. return to profitability in the third quarter. Tianqi Lithium reported a net profit attributable to shareholders of 95.5 million yuan ($13.4 million) for the quarter, a turnaround from a loss in the same period last year, despite a 30% year-on-year drop in revenue. The company attributed the profit increase to a better alignment between its lithium ore purchase prices and product sales prices.
China’s power market transactions rise 7%
Electricity traded in China’s power markets totaled 4.9 trillion kilowatt-hours in the first nine months of 2025, up 7.2% year-on-year, according to the National Energy Administration. Market-based transactions accounted for 63.4% of the country’s total electricity consumption.
