China has discovered its first undersea gold deposit – the largest in Asia – marking a breakthrough as Beijing steps up nationwide exploration for the precious metal. The discovery, off the coast of Laizhou, in Yantai, Shandong province, lifted Laizhou’s total proven gold reserves to more than 3,900 tonnes (137.57 million ounces) – about 26 per cent of the national total – ranki...

China reduced its US Treasury holdings in October to its lowest level in 17 years, as mounting concerns over US debt sustainability and the Federal Reserve’s independence further eroded confidence in dollar-backed assets. The country’s stockpile fell to US$688.7 billion in October, down from US$700.5 billion in September, according to US Treasury Department data released on Thur...

Beijing confirmed on Thursday that it has begun granting general licences with lengthier terms for exports of rare earth elements to foreign companies, though business groups said more guidance was needed on the policy’s implementation. “With the accumulation of relevant export compliance experience, some exporters have initially met the basic requirements to apply for general l...

China’s Ministry of Commerce has expressed strong opposition to recent European Union investigations into Chinese companies and vowed to use necessary means to defend their rights. “The European Union has recently launched a series of Foreign Subsidies Regulation (FSR) investigations targeting Chinese enterprises … such actions are egregious, with clear targeting and discriminat...

A Chinese court has convicted 27 individuals of smuggling more than 166 tonnes of antimony, a critical mineral used in weapons, semiconductors and flame retardants, in a significant enforcement action under Beijing’s tighter export controls for dual-use items. The Shenzhen Intermediate People’s Court in Guangdong province ruled that the group had illegally shipped the critical m...