| |
China will carry out its policy of opening
to the outside world unswervingly. It will take an active part in international
cooperation in the field of mineral resources to promote the exchange
of domestic and foreign resources, capital, information, technology and
markets on the basis of reciprocity and mutual benefit.
China implements the policy of encouraging foreign businesses to invest
in mineral resources prospecting and exploitation in the country. China
encourages domestic mining enterprises to cooperate with international
mining companies, draw on advanced international experience, import advanced
technology and operate in accordance with international practices. China
began to open its oil industry to the outside world in 1982 by using foreign
capital and technology to prospect and exploit oil and gas resources.
As a result, the range of exploitation has been extended, and the output
of crude oil has risen by big margins. Now, China has begun to participate
in the exploitation of petroleum resources outside the country. The Chinese
government has already taken or will take a number of new measures to
further improve the environment for foreign investment, widen the opening-up
and strengthen international cooperation.
— Giving further encouragement to foreign businesses to invest in
China. China issued the “Opinions on Further Encouraging Foreign
Investment at Present” in August 1999, the revised “Directory
of Industries for Foreign Investment” in March 2002, and the “Catalogue
of Dominant Industries for Foreign Investment in the Central and Western
Regions” in June 2000. It clearly emphasizes that greater financial
support will be extended to enterprises with foreign investment; encourages
those enterprises to make technical innovations and increase domestic
purchases; encourages foreign investors to invest in the central and western
regions; and further improves the management and services for enterprises
with foreign investment.
— Further improving cooperation with foreign companies in prospecting
and exploiting oil and gas resources. In the field of oil and gas resources,
the Chinese government has always adopted the pattern of cooperation with
foreign companies through one “window” based on product-sharing
contracts, and this has been widely endorsed by foreign oil companies.
China issued the revised “Regulations on the Exploitation of Offshore
Oil Resources in Cooperation with Foreign Enterprises” and the “Regulations
on the Exploitation of Onshore Oil Resources in Cooperation with Foreign
Enterprises” in September 2001.
— Encouraging foreign businesses to make investment in exploration
and exploitation of other mineral resources. China issued the “Opinions
on Further Encouraging Foreign Businesses to Make Investment in Exploring
and Exploiting Mineral Resources Other Than Oil and Gas” in October
2000, thus further opening the prospecting and mining rights market to
allow foreign businesses to start prospecting ventures with exclusive
capital or in cooperation with Chinese partners, and guarantees their
legal priority rights in exploiting the mineral resources of workable
economic value in the zones explored. The prospecting and mining rights
obtained by foreign businesses with such investment can be transferred
according to law. Foreign businesses which invest in exploiting and recovering
paragenous (associated) minerals, utilizing tailings, raising the rate
of multipurpose utilization and exploration and exploitation of mineral
resources in the western regions shall be entitled to reduction of or
exemption from mineral resources compensation fees under a preferential
policy. Foreign businesses which make exclusive investment or set up joint
ventures or cooperate with Chinese enterprises in exploiting mineral resources,
the exploitation of which is encouraged in the “Directory of Industries
for Foreign Investment,” shall be exempted from mineral resources
compensation fees for five years. It is stipulated that governments at
all levels shall not start joint ventures or enter into cooperation with
foreign investors in running mines, and in no way should they make irrational
economic demands on foreign investors, make irrational inspections, requisition
donations arbitrarily or collect charges other than those stipulated in
the laws and regulations.
— Further improving the environment for investment in exploring
and exploiting domestic mineral resources. The Chinese government sticks
to the protocol on its accession to the WTO and other relevant commitments
by annulling the administrative statutes and departmental rules incompatible
with the WTO rules and gives national treatment to foreign investors in
prospecting and exploitation. The Central Government shall guarantee the
consistent implementation of the policies, laws and regulations of the
state regarding mineral resources exploration and exploitation in all
parts of the country, and standardize the behavior of governments at all
levels in exercising management over foreign investment in running mines.
China has revised the rules for the management of geological data according
to the WTO’s principle of transparency, broadened the scope of geological
data to be released to the public, and established an open information
service system on mineral resources to ensure the availability of public
geological data for foreign investors. It has clarified, simplified and
standardized the approval procedure for foreign investment in mineral
resources prospecting and exploitation.
— Changing the import mechanism and operation mode. In the course
of taking the new road to industrialization and attracting foreign investors
to make investment in mineral resources prospecting and exploitation,
efforts will be made to shift from laying emphasis on importing funds
only to placing equal emphasis on importing funds, technology, modern
management and people with expertise, from the mere emphasis on bringing
in foreign funds in prospecting and exploitation to the establishment
of joint ventures and cooperation in the development of services and trade
in the mining industry, and from dependence chiefly on foreign loans and
direct foreign investment to the direct use of the international mining
capital market.
China will continue to strive for mutual supplement with other countries
in mineral commodities and promote the development of foreign trade in
mineral products by expanding its international trade in mineral commodities
according to the principle of reciprocity and mutual benefit. The Chinese
government shall formulate a unified policy on the import and export of
mineral products in accordance with the WTO rules and its commitments
on its accession to the WTO, coordinate, in a unified way, the export
of its dominant mineral products and the import of mineral products in
short supply, adjust the import and export mix of mineral products, improve
the economic results, and encourage the export of deep-processed mineral
products with high added value and the import of primary mineral products.
Direct import of mineral products will remain the chief way by which China
utilizes foreign mineral resources for a fairly long time to come. The
Chinese government shall gradually change the situation in which the proportion
of the spot trade in mineral commodities, including crude oil, is too
big at present, encourage the signing of long-term supply contracts with
foreign companies, and import minerals from diversified sources. With
regard to mineral resources in which China has advantages, such as tungsten,
tin, antimony, rare earths, fluorspar and barite, the government will
improve the export structure, increase the added value of the export products,
standardize the order of export business, and actively urge the trade
intermediary organizations to improve trade coordination and self-discipline,
and promote the healthy development of the trade in domestic and foreign
mineral products.
The Chinese government encourages domestic enterprises to take part in
international cooperation in the sphere of mineral resources, and in exploration,
exploitation and utilization of foreign mineral resources. It will promote
and protect investments in mineral resources prospecting and exploitation
outside China, and standardize the investment and business operation behavior
in accordance with international practices. It will actively develop cooperation
with foreign companies in geological survey and mineral resources prospecting
and exploitation, and promote bilateral and multilateral exchanges and
cooperation in the relevant scientific and technological fields.
|
|