China no longer considers mining an inefficient industry

It Is No Longer The China Of 120 Years Ago!

State Committee for Development and Reforms of the People’s Republic of China has changed its mind about adding mining to the list «unwanted» sectors of the economy that should be liquidated due to their inefficiency.

In April, the national agency presented a project Industrial Restructuring Directory, which mining of cryptocurrencies was ranked among the industries that should be eliminated. However, in the final version, effective from 2020, items related to mining were excluded virtual currencies.

China no longer considers mining an inefficient industry

The current catalog was compiled in 2011 and served as a basis for formulating economic development and reform strategies to be implemented at the local level. Depending on belonging to one of the three groups, industries supported, limited, or tried to eliminate.

The draft document was revised after many months of public consultation. According to representatives of the State Committee for Development and Reforms, they received more than 2.5 thousand proposals on this issue and took into account Most of them.

Since almost 10 years have passed since the last update, most likely, in the near future, China does not plan to oppress mining..

text: Ivan Malichenko, photo: kursiv