Xinjiang introduces incentive policies for green mines.
Release time:
2018-06-28
Source:
Recently, six departments—the Department of Natural Resources, the Department of Finance, the Department of Environmental Protection, the Quality Supervision Bureau, the Banking and Insurance Regulatory Bureau, and the Securities Regulatory Bureau—of the Xinjiang Uygur Autonomous Region jointly issued a notice on the “Administrative Measures for the Construction of Green Mines in the Xinjiang Uygur Autonomous Region (Trial).” All green mine enterprises and green mining development demonstration zones that were designated between May 2018 and 2020 are eligible to receive policy support in areas such as mining rights, land use, fiscal and tax matters, and finance.
In terms of mining rights, green mine enterprises and demonstration zones for green mining development may be given priority in acquiring mining quotas and mining rights for mineral types subject to total-volume control by the state and autonomous regions. They will also enjoy priority as the integrating entity in areas where mineral resource consolidation is underway, and under otherwise equal conditions, they will have priority right of acquisition for previously expired exploration and mining rights.
In terms of policies related to construction land, fiscal and taxation, and finance, project land required for the establishment, renovation, and expansion of green mining enterprises and demonstration zones for green mining development will be given priority assurance. Funds will be prioritized for geological and mineral exploration, ecological restoration of mining areas, prevention and control of heavy-metal pollution, and land reclamation. Enterprises that are certified as meeting the criteria for high-tech enterprises may, in accordance with the law, have their corporate income tax reduced. Information on green mines will be incorporated into the enterprise credit information system and will serve as an important reference for handling credit transactions and other financial services. Green mining enterprises meeting the relevant conditions will also receive support in listing on the SME board, the ChiNext board, and the main board within China, as well as in raising funds through listings on the New Third Board and regional equity markets.
As of now, Xinjiang has established 26 national-level and 6 autonomous-region-level green mines, covering mineral resources such as iron, copper-nickel, gold, rare metals, zinc, uranium, petroleum, coal, and potash salts. Xinjiang will also develop green mine construction standards for 10 major bulk mineral sectors within the autonomous region, including coal, oil and natural gas, iron-copper, gold, limestone, and sand and gravel. Through a working system featuring government guidance, enterprise-led self-construction, third-party assessments, and social oversight, Xinjiang aims to have more than 400 green mines and 6 green mining development demonstration zones completed by 2020.
Previous page