"China will, in accordance with the law, approve applications for the export of controlled goods that meet the relevant requirements," the ministry’s statement said

Announcement follows high-level negotiations in London and comes amid intensifying competition over strategic technologies.

The statement came after U.S. President Donald Trump said that both sides had signed a trade deal, without providing further details.

"China will, in accordance with the law, approve applications for the export of controlled goods that meet the relevant requirements," the ministry’s statement said

The deal involves loosening exports of rare earths to the United States and the lifting of some restrictions on U.S. goods to China, China’s Ministry of Commerce said.