China will attempt to attract foreign investment to its mining sector by hosting an international mining exposition.
The event, to be held April 23-25 in Shenzhen near Hong Kong, comes on the heels of China’s new mining and taxation policies, which took effect Jan. 1.
The policies are designed to encourage joint ventures between foreign and local companies.
Under the new Mineral Resource Act, foreign companies can now own equity interests in Chinese projects; previously they were permitted to own only financial interests.
The Chinese government is also reforming its claim-staking procedures. Claims will be defined by latitudes and longitudes, and controlled through a single central agency.
The government plans, over the next five years, to direct investment in mineral exploration toward the midwestern area of mainland China.
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