China has introduced a tracking system for its rare earth magnet sector, three sources said, as its export restrictions on them begin to cut off customers around the world.

China has launched a comprehensive monitoring system for its rare earth magnet sector, forcing manufacturers to disclose trade data and customer identities to government authorities, three sources told Reuters,

China has approved temporary export licenses to rare-earth suppliers of the top US automakers, Reuters reported on Friday, citing unidentified people familiar with the matter.