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China will build 103 production bases by 2020


11-30-2016 16:31 BJT

The Chinese Ministry of Land and Resources has released planning for mineral resources production over the next five years. The plan aims to set up a stable and efficient supply chain for mineral products.

"We will ease regulations on oil and gas digging and make it open and accessible to all participants. We will include more mineral items into our categories for competitive bidding. And, we will delegate the right for approving exploitation applications to lower governments. So that we will no longer see applications piling up in front of only a few people who are eligible for giving approvals."said Ju Jianhua,vice director of planning dept, Ministry of Land & Resources.

Ju says China will intensify its efforts in resources mapping and will try to locate five to eight oil fields with reserves above 100 million tons. A total of 103  production bases will be built in major minerals output areas.

China will also enhance production concentration to guard against supply fluctuations. In the coal sector, Ju said China will make sure 95 percent of its annual output capacity will be within a few large production bases.

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