Domestic wind industry: Germany plans to introduce measures aimed at boosting its domestic wind industry, the economy ministry said on Thursday, amid concerns from European governments and companies over Chinese firms gaining momentum on the continent.

The measures will focus on improving cybersecurity, reducing dependency for critical components like permanent magnets, and ensuring fair competition in global markets, the ministry said following a meeting with unnamed European wind turbine manufacturers and suppliers in Berlin, without giving further details or a time frame.

China accounts for about 60% of global rare earth mine production, but its share jumps to 90% of processed rare earths and magnet output.

"We must continue improving conditions to keep this industry competitive and ensure future value creation within Germany and Europe. These measures are a crucial step," Economy Minister Robert Habeck said in a statement.

The plan will also address securing financing for increased production and adjusting public funding mechanisms to prevent market distortion.

The ministry did not immediately respond to a request for further details.

Tensions are high between Beijing and the European Union, the world's two largest wind markets. The European Commission launched an investigation in April into whether Chinese companies are benefiting from unfair subsidies.VOA/SP