WTO Entry Has Far-Reaching Effect on China's Resource Management

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Last updated at: (Beijing Time) Monday, March 11, 2002

WTO Entry Has Far-Reaching Effect on China's Resource Management

China's accession into the World Trade Organization (WTO) will have a broad and far-reaching influence on the management of the country's land and resources, minister of land and resources Tian Fengshan said in Beijing Sunday.

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China's accession into the World Trade Organization (WTO) will have a broad and far-reaching influence on the management of the country's land and resources, a senior land official said here Sunday.

Tian Fengshan, minister of land and resources, said at the National Meeting on the Land and Resources that WTO rules and China's pledge to keep those rules as a member country will have an inevitable influence on domestic resource management.

Open certain fields to foreign capital

Nowadays, no country could develop solely on domestic resource supplies, said the minister, adding that WTO access has surely increased chances for China to optimize its own resource consumption with global supplies.

There is also a higher demand for China to open such fields as resource exploration and production to foreign investors. The global trade system of the WTO is conducive to implementing China's "Two-Way Investment Strategy", which encourages competent Chinese companies to invest abroad while stimulating the utilization of foreign investment, he said.

Meanwhile, the ministry is conducting an all-round and scientific evaluation of the negative international factors brought about by China's WTO entry which may influence China's domestic resources strategy, Tian said.

Dmestic resources to be protected

The minister emphasized that China should always properly balance the greater use of foreign resources and the safeguarding domestic resources.

In this respect, the country abides by the principle of making sufficient use of foreign resources while avoiding dependence on the imports, pushing forward international resources exchanges while curbing the outflow of reserves of rare resources from the country, he said.

Tian said that China will increase foreign investment in exploring and developing domestic resources, while actively carrying out geological surveys and strategic resource investigations abroad and improving research on global resource strategies, which would combine in the "Two-Way Investment Strategy."

He also pointed out the continued importance of securing China's food supply by ensuring the basic farmland coverage in the country.

Foreign Investors Welcomed to Explore Minerals: Minister

Foreign investors are more than welcome to join hands with Chinese enterprises to explore minerals in China, Minister of Land and Resources Tian Fengshan said at an international seminar on China's mining industry on Septermber 20, 2001.

The rising domestic demand means big market potential, Tian said, "and petroleum, ore of iron and copper are in bad need in particular."

However, he said, China's mining industry development should be coordinated with environmental protection, which seems to be the country's weakness. He hoped the foreign mining industry would help China in this arena. (In Detail)

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