Beijing: China on Friday announced the suspension of several 2025 export control measures on key strategic resources and materials for one year, while also lifting import bans on US soybeans and logs, according to state-run media.

According to Anadolu Agency, the suspension, as detailed by the Ministry of Commerce (MOFCOM), applies to several announcements made jointly by the ministry and the General Administration of Customs (GAC), as reported by Global Times. The export controls that have been lifted include those on superhard materials, rare earth-related equipment, raw or auxiliary materials, medium and heavy rare earths, lithium batteries, and synthetic graphite anode materials.

The decision to lift restrictions extends to controls on certain foreign items and rare earth technologies. This suspension will be in effect from Friday until November 10, 2026. Earlier, on October 9, China had tightened its rare earth export restrictions, limiting processing and manufacturing technologies and prohibiting cooperation with foreign companies without prior government approval.

Following a meeting between President Donald Trump and his Chinese counterpart, Xi Jinping, in South Korea on October 30, the Chinese Commerce Ministry announced that the current rare earth export restrictions against the United States would be suspended for a year. Meanwhile, the GAC has lifted import restrictions on some US agricultural and forestry products, including soybeans and logs.

"The move follows an evaluation of the corrective measures taken by the US side and is in accordance with relevant Chinese laws, regulations, and international standards on phytosanitary measures," said the GAC. Starting from November 10, the export licenses of the three US soybean companies will be reinstated, and imports of American logs will also resume.

This latest move comes after the summit between Xi and Trump in South Korea last month, where both sides agreed to a one-year trade and tariff agreement. Earlier this year, in March, China had suspended soybean imports from three US companies-CHS, Louis Dreyfus Company Grains Merchandising, and EGT-after discovering ergot and seed coating agents in soybeans imported from the US.

According to data from the US Agriculture Department's Foreign Agricultural Service, US soybean exports to China declined from $17.9 billion in 2022 to $12.2 billion in 2024.