China Adds Cryptocurrency Mining to ‘Negative’ Industries Draft List to Ban Investments


China has added cryptocurrency mining to a draft list of industries in which investment is restricted or prohibited, although it has reduced the number of sectors on the list overall, a document released by state planners showed on Friday.

The “negative list” details sectors and industries that are off-limits to both Chinese and foreign investors.

Regulatory restrictions in China cryptocurrency trade and mining this year, with the country’s central bank Taking a Pledge to Purge “Illegal” Cryptocurrency Activities last month. This action has prompted cryptocurrency exchanges to cut ties with Chinese users.

China is also tightening controls on public discourse, cracking down on show business for “polluting” society and allowing mobile browsers to perpetrate the spread of rumours, use sensationalist headlines and violate the core values ​​of socialism. asking for the publication of the material.

The state planner said it was restricting the investment of “non-public” capital in a variety of publishing activities, including live broadcasting, news-gathering, editing and broadcasting organizations, and the handling of news.

The NDRC stated that non-public capital cannot be involved in news launches by foreign entities or summits, and award selection activities in the field of news and public opinion.

The National Development and Reform Commission said its 2021 list of industries in which investment is restricted or restricted has been reduced to 117, down from 123 in 2020.

The industries included in the list are open for investment by all without any approval.

© Thomson Reuters 2021

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