Published on : Mar 09, 2016
ALBANY, New York, March 09, 2016: ResearchMoz.us has recently announced the addition of a new market study on the mining industry in China to its repository. The research report, titled “Chinas Mining Fiscal Regime: H1 2016,” presents a comprehensive analysis of the fiscal regime that will govern the China mining industry in the first half of 2016.
The mining fiscal regime of China is a set of laws, policies, and agreements that govern the economic benefits derived from mining in this Asian superpower. The fiscal regime regulates the capital transactions between the legal and the political entities involved. In this context, a legal entity is commonly a Chinese mining company. Two or more companies can enter into a partnership with the original company to share the investment capital and economic risks under this setup.
The research report talks about the performance of the mining industry in China, emphasizing on the governing bodies, laws, policies, obligations, rights, licenses, and key fiscal terms such as royalty, land appreciation tax, city maintenance and construction tax, resource tax, enterprise income tax, vehicle and vessel usage tax, depreciation, export tariff, stamp tax, loss carry forward, value added tax and withholding tax.
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According to the market study, iron ore, coal, bauxite, zinc, silver, gold, copper, nickel, uranium, manganese, and chromium are the main commodities covered under the mining fiscal regime in China.
The report further states that China has huge deposits of metallic and non-metallic mineral resources of almost each type. However, the distribution of these mineral resources varies from region to region, owing to the disparity in the tectonic zones and the conditions leading to their mineralization, which create differences in the type of mineral, its quality, and reserve amount.
As per the research study, the state council of the People’s Republic of China is the apex body in China’s mining fiscal regime. The key roles of this administrative body include implementation of laws and decisions rolled out by the China National People's Congress (NPC) and its standing committee.
The main governing body for all mining activities in the country is the Ministry of Land and Resources (MLR), the Government of China. The ministry is responsible for the preparation of plans, administration, security, and the optimal utilization of land, marine, and minerals resources within the boundaries of the economy, states the market report.
Further, it states that the Mineral Resources Law (implemented in 1996) is the primary law that regulates the mining industry in China. The law was revised in 1998 and was implemented with the objective to strengthen administration associated with land, protecting as well as developing land resources, ensuring the optimal usage of land for industries, and increasing mining activities.
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