The Mineral Industry of China in 2007
2007 Minerals Yearbook CHINA U.S. Department of the Interior December 2009 U.S. Geological Survey THE MINERAL INDUS T RY OF CHINA By Pui-Kwan Tse After three decades of economic development, China probably have some impact on the global commodity prices has become one of the leading economic and trade powers (Batson and King, 2008). in the world, one of the top destinations for foreign direct investment, and an export destination of choice. During the Minerals in the National Economy past several years, the Government’s economic policy was to prevent economic slowdown and fight inflation. In 2007, China is rich in mineral resources and was the world’s China’s economic growth rate was 11.9% and represented the leading producer of aluminum, antimony, barite, bismuth, coal, fifth consecutive year of double-digit expansion. Industrial fluorspar, gold, graphite, iron and steel, lead, phosphate rock, production increased by 18.5% compared with that of 2006. rare earths, talc, tin, tungsten, and zinc in 2007. It ranked among The consumer price index (a measurement of inflation) rose to the top three countries in the world in the production of many a decade high of 4.8%. To prevent economic “overheating,” the other mineral commodities. China was the leading exporter Government raised interest rates and the People’s Bank of China of antimony, barite, coal, fluorspar, graphite, rare earths, and (the central bank) required commercial banks to increase the tungsten in the world. The country’s demand for chromium, reserve-requirement ratio 11 times to 11.5% at yearend 2007.
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