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Six Ministries To Promote Qualified Green Mining Enterprises To Go Public Domestically

Recently, the Ministry of Land and Resources, the Ministry of Finance, the Ministry of Environmental Protection, the AQSIQ, the CBRC and the CSRC jointly issued the Implementation Opinions on Speeding up the Construction of Green Mines. The Opinions put forward to promote qualified green mining enterprises to go public domestically on the SME board, GEM or main board and to trade and gain financing from the New Third Board and the regional equity markets.

The Opinions propose to encourage banking and financial institutions to develop special green mine credit products that meet local conditions on the premise of strengthening the environmental, health, safety and social risk assessment and management of investment projects in the mining field and to increase financial support for green mining enterprise in environmental restoration and control, prevention and control of heavy metal pollution, and recycling of resources, etc. under the principle of risk control and commercial sustainability.

The Opinions also encourage financial institutions to actively provide financial services and support for green mining enterprises that have established sound environmental, health, safety and social risk management systems, timely disclosed information, interacted well with stakeholders, purchased environmental pollution liability insurance and offered competitive, marketable and profitable products.

The Opinions encourage provincial governments to establish a green mine project database and to strengthen support for green credit, and propose to incorporate green mine information into the enterprise credit reporting system, which will serve as an important reference for banks to handle credit services and other financial services.

In addition, the Opinions support government guarantee agencies to explore the establishment of a structured green mining guarantee fund to provide credit services for green mining enterprises and projects. The Opinions also encourage social capital to establish various types of green mining industry funds to provide financial support for green mining projects.