China Will Continue the Opening-up Strategy in the Mining Industry - Wang Min Addressed the China Mining Investment Forum
Source: Portal Website of the Ministry of Land and Resources Citation: China Land and Resources News Date: March 8, 2012
On March 6, the China Mining Investment Forum was held in Toronto, Canada. Wang Min, Deputy Minister of Land and Resources, PRC stated in his address that China will continue the opening-up strategy in the mining industry Wang Min stated that opening-up is the unswerving basic state policy of China. To deepen the cooperation in the international mining industry, the Ministry of Land and Resources of PRC is formulating opinions to support opening-up in the domains of geology and mineral resources, continuing to encourage foreign investment in survey and exploitation of mineral resources within the territory of China and deepen all-round cooperation in survey, exploitation, processing, trade, technology and management of mineral resources. Until now, China has cooperated with more than 60 countries and regions in mineral resources survey and exploitation, and hundreds of mining companies from 20-plus countries and regions have conducted more than 400 survey and exploitation projects of mineral resources, such as those of oil, natural gas, coal, copper, lead zinc, gold and iron. Foreign companies have set up some 600 mining enterprises and offices in China, investing about 800 exploration and exploitation rights. Meanwhile, China has also been active in exploring cooperation in survey and exploitation of overseas mineral resources and has required Chinese enterprises to pay more attention to environmental protection and interests and economic development of the regions where resources are located. He stressed that the Chinese government will place a higher value on improvement to the investment environment and protection of lawful rights and interests of investors. In the past year, the Chinese government took a number of measures, including encouraging foreign companies to act as strategic investors of Chinese listed companies and raising funds on the Chinese capital market, encouraging multinational companies to establish in China regional headquarters, centers of R&D, purchasing, financial management, settlement, cost and profit proliferation and encouraging foreign companies to engage in reorganization, transformation, merger and restructuring of Chinese enterprises by means of M&A and taking stakes. Meanwhile, it has also actively encouraged qualified Chinese enterprises to increase access to capital by going public on overseas exchanges. By the end of 2011, over 100 Chinese enterprises including major mining companies were listed overseas. He suggests that China and Canada shall work together to build a good environment in order to increase bilateral investment and grasp development opportunities by strengthening the dialogue mechanism regarding cooperation in mineral resources at enhanced China-Canada mining cooperation platforms such as CHINA MING, PDAC and China-Canada Mining Investment Forum. (By Yu Xingdi and Yu Defu)
CHINA MINING Congress and Expo 2011 attracted over 5000 delegates, exhibitors and visitors from 55 countries and regions, increasing by over 650 people as compared to the last session. There were 382 domestic and foreign exhibitors, increasing by 38% as compared to the last year. The exhibition area amounted to 25000 square meters, more than doubling that of the previous session, with 1,050 standard booths, increasing by 65% compared to the previous session. There were a total of 23 forums and 7 projects shows held with 425 promotion and negotiation projects introduced by the congress, increasing by 32.8% as compared to last year. At the project signing ceremony, 55 projects were signed, amounting to RMB15.7 billion, increasing by RMB 4 billion and by 34% as compared to the previous year. More than 40 foreign VIPs including 23 mining ministers and vice ministers as well as ambassadors in China from 18 countries and regions such as Australia, Canada, South Africa, Angola, etc. attended this session of the congress. Meanwhile, the congress attracted more than 100 medias and over 200 journalists from home and abroad to cover the congress. In terms of number of delegates and scale of exhibitors and booths, the CM2011 all topped the previous sessions, ranking the world’s premier mining congress and expo..
CHINA MINING Congress and Expo 2012 will be held at Meijiang Convention and Exhibition Center in Tianjin on November 3rd-6th, 2012 (Expo will be opened on 3rd pm Nov., 2012). We invite you to join the event and to celebrate the 14th anniversary of CHINA MINING with us. For more information about CHINA MINING 2012, please visit:m.balanzskin.com
