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Home / Metal News / Chinese Economy to Slow Down, Mining Review and Approval Rights to Be Delegated

Chinese Economy to Slow Down, Mining Review and Approval Rights to Be Delegated

iconMay 30, 2013 22:20
Source:SMM
Chinese Premier Li Keqiang claimed the Chinese economy will maintain 7% growth in 2020.

SHANGHAI, May 30 (SMM) – Chinese Premier Li Keqiang claimed the Chinese economy will maintain 7% growth in 2020. An official from the National Development & Reform Commission (NDRC) said China’s economy will slow down. During Chinese Premier Li Keqiang’s visit to Germany, two countries signed cooperation agreements involving electric vehicles, new energy and so on. The Ministry of Land & Resources (MLR) delegates mining review and approval rights to provincial halls.    

Net Profits in Nonferrous Metal Industry Down Further, Acquisition and Establishment of Micro-Credit Companies on the Rise
Growth in operating revenues in nonferrous metals industries has been slowing since last year, with net profits continuously dropping. In this context, some nonferrous metal companies have begun to acquire or establish micro-credit companies, while most opt to branch out to upstream or downstream industries. 
　　
MLR: Mining Review and Approval Rights in Prospecting Areas to Be Delegated to Provincial Halls  
Peng Qiming, Head of Geological Survey Department of the MLR, said the MLR is planning to delegate review and approval rights on integrated prospecting program (including mining rights) to provincial Halls of Land and Resources so as to reduce review and approval procedures and quicken review and approval.  
 
NDRC Official: Chinese Economy to Slow Down
Song Li, Deputy Director of Economic Research Institute of the NDRC, claimed the Chinese economy will slow down. He added that China’s economy will experience ups and downs, but will not slump dramatically as the Japanese economy did. This is because consumption in the world’s second largest economy will expand rapidly.    
 
China and Germany Sign 17 Economic and Trade Cooperation Agreements  
During Chinese Premier Li Keqiang’s visit to Germany, China and Germany signed 17 economic and trade cooperation agreements, covering environment, climate, agriculture, electric vehicles, new energy and so on. 
 
Employees from Sany Heavy Industry and Zoomlion Heavy Industry Science and Technology Fight During New Product Promotion Fair 
During the New Product Promotion Fair in Suzhou on May 25, Sany Heavy Industry’s staff clashed with that of Zoomlion Heavy Industry Science and Technology, with cars being crashed.    
 
China Receives More Rejection Letters of Certificate of Origin from Jakarta Customs
The Development Zone Division of the Nantong Inspection and Quarantine Bureau recently received eight rejection letters of certificate of origin from Indonesia’s Jakarta Customs, with visa value hitting USD 990,000.
　　
Minimum Wages in 25 Chinese Provinces Double
According to the Ministry of Human Resources and Social Security, the minimum wages in 25 provinces in China were raised by 20.2% on average in 2012.
 
Societe Generale: Profits at Chinese Industrial Enterprises to Remain under Downward Pressure for Months to Come
 
WSJ: Is China the Biggest Loser of Yen Depreciation
 
(Edited by SMM)
 
 
 
Chinese economic growth
nonferrous metal industry

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