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 DEVELOPMENT OF CHINA'S INDUSTRY |
| Data from National Bureau of Statistics demonstrates that investment of Chinese mining industry was RMB527.1b in 2007, up by 26.9% year-on-year. Investment in social fixed assets was RMB13, 723.9b of the whole year, up by 24.8% year-on-year. Production volume of some main minerals and resource products in 2007 grew to certain degree: raw coal was 2.536b tons, up by 6.9% year-on-year; crude oil was 187m tons, up by 1.1%; natural gas was 69.31b cubic meters, up by 18.4%; crude steel was 489.66m tons, up by 16.8%; ten sorts of nonferrous metals were 23.508m tons, up 22.7%; alumina was 19.453m ton |
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| STATUS OF FOREIGN INVESTMENT |
| In 2006, foreign companies were enthusiastic in investing in Chinese mining industry. They were active to invest and prospect in Yunnan, Inner Mongolia, Xinjiang, Sichuan, Gansu, Qinghai and etc. Exploration works of 9 oil and gas zones in Tarim Basin were opened up to the abroad. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| The bound rate of iron, manganese, cooper, nickel, cobalt, lead, aluminum, zinc, tin, chrome, tungsten, uranium, thorium, molybdenum, titanium, niobium, tantalum, vanadium, zirconium, silver and stibium ores and concentrates is zero at the date of accession. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| In May of 2006, global gold price rose to 730 US dollars per ounce with 41% year-on-year increase, hitting a new record in the past 26 years. Thought dropped significantly later, it still ended with 635 US dollars per ounce closing price, which was still 23% higher than 517 US dollars per ounce in 2005. |
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