China adds cryptocurrency mining to ‘negative’ industrial draft list to ban investments

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China has added cryptocurrency mining to its draft list of investment-prohibited or prohibited industries, although it has reduced the number of sectors on the overall list, a document released by the state planner on Friday.

The “negative list” describes an unlimited number of sectors and industries for Chinese and foreign investors.

Regulators in China have banned cryptocurrency trading and mining this year, with the country’s central bank last month promising to crack down on “illegal” cryptocurrency activities. This repression has prompted cryptocurrency transactions to reduce relations with Chinese users.

China has tightened controls on public discourse, reduced the business of “polluting” the community, and called for the removal of the spread of rumors, sensational headlines and content that violates the core values ​​of socialism in mobile browsers.

State planning has said it will stop investing “non-public” capital in various publishing activities, including live projects, news gathering, editing and broadcasting companies and news operations.

Non-public capital cannot be involved in introducing news published by foreign companies or summits and award selection activities in the field of news and public opinion.

The National Development and Reform Commission has reduced the draft list of 2021 industries where investment is prohibited or restricted to 117 from 123 in 2020.

Unlisted businesses are open to investment without any permission.

© Thomson Reuters 2021


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