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Foreign capital not encouraged in mining of key minerals
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Resources conservation and environmental protection are highlighted in the new catalogue. New items have been added into the revised catalogue to encourage foreign capital to develop recycling industries, clean production systems, renewable energy sources and environment protection efforts, as well as investments in comprehensive resource utilization. Investments in scarce or nonrenewable minerals will not be encouraged. Placing foreign capital in some important nonrenewable minerals will not be allowed and foreign capital projects requiring high-energy consumption and causing severe pollution will be limited or prohibited.

The new catalogue adheres to the principles of opening China wider to the outside world. It promotes industrial structure upgrades. In terms of the manufacturing industry, new entries have been added to further promote foreign investment in high-tech industries, equipment manufacturing and new materials manufacturing. In addition, the new catalogue also covers more items regarding modern logistics and materials.

Aiming at a large trade surplus and the rapid growth of foreign exchange reserves in China, the updated catalogue includes new export policies that go beyond merely promoting exports.

The revised version in 2007 is also favorable toward promoting coordinated development of all regions in China. All the competitive industries and feature industries suitable for the central and western areas, as well as the older northeastern industrial bases will be considered in the near future.

Other entries have also been revised in the 2007 catalogue in order to remain cautious about opening up strategic and sensitive industries involving China's economic security.

The new catalogue is an important policy for guiding foreign investment. It will play an active role in macro-control, balancing domestic development and opening-up. It helps upgrade industrial structures as well as improves the quality of foreign capital utilization.

(China.org.cn by Yang Xi, November 7, 2007)

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