China's increasing focus on mineral exploration to further fuel energy sector
October 15, 2008 | BY
clpstaff &clp articlesChina is encouraging foreign investment in the mineral resources exploration and exploitation industry. The government has placed importance on addressing the import of foreign capital and new technologies for mining.
By Henry Lee at LC & Co
China has established a thorough, although not yet perfect legal system for the exploration and exploitation of its minerals. This system consists of a lot of laws, regulations and rules promulgated by different levels of government authorities. The Mineral Resources Law promulgated in 1986 and revised in 1996 can be considered as the law which started the establishment of the legal system and became the basis of the same.
The Catalogue for the Guidance of Industries for Foreign Investment (the Catalogue) jointly promulgated by the State Development and Reform Commission on October 31 2007 and the Ministry of Commerce and the Measures for the Administration of the Foreign-invested Mineral Exploration 《外商投资矿产勘查企业管理办法》(the Measures) jointly promulgated by the Ministry of Commerce and the Ministry of Land and Resources on July 18 2008 are two regulations that may require special attention by foreign investors with an interest in investing in mineral industries in China.
The Catalogue came into force on December 1 2007 and details the mineral industries on which foreign investment is encouraged, restricted or prohibited.
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