Wang Min: Establish a completed financial system; help mining enterprises “going out”
Source: www.mlr.gov.cn Citation: www.gtzyb.com Date: Nov.5th, 2013
On the evening of November 2nd, the "Bank of China Night” was held in Tianjin. It was hosted by CHINA MINING Organizing committee, organized by Bank of China . Mr. Wang Min, the vice minister of Ministry of Land and Resources, Mr. Cui Jindu, executive vice mayor of Tianjin, Mr. Yue Yi ,vice president of Bank of China have delivered speeches respectively. Mr. Wang Min said, it was necessary to establish a relatively completed financial system to help mining enterprises “going out”.
Mr. Wang Min reviewed the development history of China’s minerals such as petroleum, gas and gold, then he said, as prospecting was more and more difficult currently, we should consider how to further balance the mechanism and system, and how to release the market vigor, especially how to use the capital and technology to its full capability, how to establish a relatively completed mining financial system to help mining enterprises “going out”.
According to the introduction by Mr. Yue Yi, in the recent years, the recovery of global economy has grown tortuously, the pressure of mining industry downturn has increased consistently, however, the mining industry was still the pillar of the real economy, and mining market was still one of the most prospective future markets. As China’s economy arising, China was speeding up the pace of stepping into the mining industry globalization and playing a vital role which was commensurate with its status in the exploration and development of the world mining resources. China would get together with the companions in domestic and overseas to establish and complete a sound interactive mechanism for mining production and consumption, promote stability and prosperity of global mining industry and steady recovery of global economy.
Mr. Cao Yuanzheng , the chief economist of Bank of China said in the forum that since the last year, the price of the minerals have dropped evidently, the investors have greatly lessened their interests in mining stock, and the level of estimation has lowered for the reasons that the global economy was still fatigued and weak, the prediction of quantitative relaxed policy quitting has continuously heated up and the demand for new market has obviously slowed down as well as the energy technology revolution. Moreover, the quitting of quantitative relaxed policy in developed countries might bring remarkable financial risk for mergers and acquisitions of some enterprises in global mining field, more operating challenges facing by global mining would make mining financing more urgent.(Cheng Xiujuan) (Translated by TLRHVC)
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As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2013 were held at Meijiang Convention and Exhibition Center in Tianjin on November 2-5, 2013. We invite you to join the event and to celebrate the 15th anniversary of CHINA MINING with us. For more information about CHINA MINING 2013, please visit: m.balanzskin.com.
