China Gathers Foreign Firms in Bid to Reassure on Rare Earths

China convened an unusually large meeting with foreign businesses in an effort to reassure them that its new rare earth export controls aren’t meant to restrict normal trade — evidence policymakers are trying to calm a backlash over the move.

Vice Commerce Minister Ling Ji told representatives from more than 170 foreign companies and business chambers on Monday that Beijing’s export curbs are a “responsible act” intended to protect world peace and stability, according to a ministry statement that didn’t identify the firms.

“China will continue to approve legitimate transactions according to law, and work to maintain the stability of ...