BIZCHINA / Weekly Roundup
Gold-mining restrictions
(China Daily)
Updated: 2006-12-04 10:44
Gold-mining restrictions
China, the world's fourth-biggest gold mining country, will raise the
threshold for foreign investors in the gold mining sector to improve the
sustainability of the industry, a regulator says.
According to a source from the National Development and Reform Commission
(NDRC), China will impose restrictions on small foreign investors in the
sector while welcoming larger ones. The source declined to reveal what
measures will be taken, only saying an announcement would be made before
the end of the year.
The regulator also declined to define "small" versus "large" investors.
"The sector does not need many small foreign investors as there have been
a large number of small Chinese gold miners," the source said on
condition of anonymity. "The new policy is designed to improve the
quality of foreign investment to ensure sustainable development of the
sector."
First energy law
The draft of China's first energy law, which will shape the country's
energy policies, will be completed by the end of the year, sources with
the National Development and Reform Commission (NDRC) said last week.
The law will paint broad brush strokes and not delve into details of each
sector in the industry, according to experts.
A team led by the NDRC and comprising 15 ministry-level departments was
set up at the beginning of this year to frame the law.
It will override current industry laws such as the Electricity Law and
the Coal Law, and serve as a guideline for the legislation of any future
laws on a certain energy sector, according to Zhou Dadi, a researcher
with the Energy Research Institute affiliated to the NDRC.
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