China Implements New Silver Export Restrictions in 2026

TLDR

• New export rules effective January 1, 2026, require licenses.
• Only companies producing 80 tons of silver can apply for licenses.
• Global silver prices surged above $52 per ounce following the announcement.

China has announced new export restrictions on silver, effective January 1, 2026. The policy requires exporters to acquire special government licenses, concentrating control in the hands of large state-certified companies. This aims to ensure sufficient domestic supply for key industries, such as solar and electronics, amid a global silver deficit.

Details were disclosed in Ministry of Commerce Announcement No. 68, on October 30, 2025. The announcement aligns silver with other strategic minerals like rare earths and tungsten, emphasizing its importance as a national security asset. Only companies producing at least 80 tons of silver annually are eligible to apply for export licenses.

Focus on National Industrial Needs

The primary goal of the restriction is to safeguard domestic industries that rely heavily on silver. These include the electronics and solar industries, which require stable and affordable access to silver. By limiting exports, China aims to mitigate resource depletion and protect environmental interests.

This policy mirrors past actions taken on other strategic resources, such as rare earth elements, whose export controls have historically stirred trade tensions. Similar policies were seen with tungsten and antimony, illustrating a cohesive strategy across multiple mineral markets.

Impact on Global Silver Markets

The announcement has already affected global silver prices, which have surged above $52 per ounce, due to expectations of tightened supply chains. Historically, China’s export policies have had significant implications on global market dynamics, often leading to price increases as seen in the silver market.

Notably, there are no direct impacts specified on cryptocurrencies such as Ethereum or Bitcoin. The policy remains tightly focused on the physical markets for commodities rather than digital assets. Without documented on-chain data or blockchain metrics impacted, the commodities policy operates separately from the cryptocurrency sphere.

Comparisons to Past Resource Controls

China’s approach to silver mirrors its previous strategies on controlling exports of rare earths. The rare earth export controls, announced on October 9, and lifted on November 7, 2025, have shown the potential for rapid policy adjustments. Such adaptations highlight China’s strategic economic adjustments in response to both domestic demand and international trade conditions.

A past agreement on economic and trade relations was struck, easing previous tensions: Document on economic strategies for 2024. The historical impact of these policies on international trade has been significant, influencing market trends and international responses.