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.

1

2

3

4

(For more biz stories, please visit Industry Updates)