Beijing outlines rapprochement with European countries while finance ministers from the group’s countries articulate a response
G7 finance ministers have decided to coordinate their response to China’s export controls on rare earths and pursue diversification of suppliers of these strategic minerals. The decision was announced on Thursday (October 16, 2025) by the European Economic Commissioner, Valdis Dombrovskis, during the IMF (International Monetary Fund) meetings in Washington.
Dombrovskis said the group’s countries share concerns about the new measures imposed by Beijing, which would affect trade in rare earths, minerals essential for high-tech industries. 80% to 90% of the global supply of these strategic resources comes from China, which puts Western countries in a vulnerable position.
“It was clear that the G7 partners share concerns about these new extensive Chinese export controls, expanding both the scope of minerals covered, but also in terms of value chain coverage and having quite extensive extraterritorial provisions”said Dombrovskis.
The G7 discussions took place in Washington, at the same time that, in China, the government outlines a strategy of rapprochement with French diplomacy – one of the members of the Western group. On Wednesday (Oct 15), Chinese Foreign Minister Wang Yi participated in a meeting in Hangzhou with the French President’s Diplomatic Advisor, Emmanuel Bonne.
During the bilateral meeting, Wang Yi stated that relations between China and France have progressed over the past year under the strategic guidance of the heads of state of both countries, (Communist Party of China, left) and (Renaissance, center).
“In the 50 years since China and the EU established diplomatic relations, the two sides have helped each other succeed and developed together. China and Europe have no geopolitical conflicts or clashes of fundamental interests. China-EU economic and trade relations are complementary and mutually beneficial in nature”he declared.
Despite the imminent concern of G7 countries with the control of rare minerals established by the Chinese government, Bonne praised the friendship and diplomatic ties between Paris and Beijing.
“France and China are comprehensive strategic partners and both are large countries with significant influence. In the current international situation marked by uncertainty and instability, it is necessary to strengthen strategic communication, increase mutual trust and strengthen cooperation”said the French representative.
