Siemens, Synopsys and Cadence said the U.S. has lifted export controls restricting sales and business in China.

U.S. chip design software developers said they have received notices lifting restrictions on exports to China, in a signal that the two largest economies had settled a dispute over rare earths that had undermined a trade deal reached in May.

Shares of chip design firms Cadence Design Systems Inc (NASDAQ:CDNS) and Synopsys Inc (NASDAQ:SNPS) are rising Thursday after the U.S. Department of Commerce rescinded China export restrictions.