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Accelerated Reform of China's Gold Industry Demanded
China's gold industry has to undergo a thorough reform, Wang Dexue, director of the Gold Administration under the State Economic and Trade Commission, lately said at an annual meeting on accelerated work for a reform of the country's gold production.
China's existing gold management system is not in accord with international practice. China must make strenuous efforts to introduce foreign funds and advanced techniques and, at the same time, open its gold resources to foreign companies, carrying on with policy study and efforts for increased international fund-raising channels. Investors will have to be encouraged from other industrial sectors and favorable conditions created for them for gold exploitation.
Wang told that a further growth of China's gold industry lies in the carrying out of a sustained development strategy, placing geological work in a more important position to make most of all new resources and advantages found. As to the focus of gold mining, it will be shifted west from east and central China.
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