GENEVA, Oct 21 (Reuters) - China needs to conserve its dwindling supplies of rare earth metals, of which it is the world's dominant supplier, but Beijing's new five-year-plan will not involve any rapid change in export quotas, a senior Chinese trade official said on Thursday.
Sun Zhenyu, China's ambassador to the World Trade Organization, told Reuters Insider that it was important for other countries to develop their own resources of rare earths, which are essential for a range of high-tech goods.
Sun said he was hopeful the United States would soon relax restrictions on high-tech products that have both commercial and military applications -- a long-standing request of Beijing -- and such a move would boost U.S. exports to China significantly. (Reporting by Jonathan Lynn; Editing by Stephanie Nebehay)