International Business
From Times Staff and Wire Reports
China to Allow Foreign Investment in Gold: In a bid to modernize the industry, China--the world’s sixth-largest gold-producing country--will permit international investors to help run its gold mines starting in 1994, Cui Dewen, vice president of the Metallurgical Industry Minstry’s Gold Administration, told the official Xinhua News Agency. Gold production has long been treated as a special trade in China, but the government has recently abandoned some preferential policies for gold production, such as state subsidies, low-interest loans and tax exemptions.
