China proposes adding cryptocurrency mining to 'negative list' of industries.
BEIJING, China (Reuters) – A document released by the state planner on Friday, China has added cryptocurrency mining to a draught list of industries in which investment is limited or barred, albeit reducing the number of sectors on the list overall.
The "negative list" specifies which industries and sectors are off-limits to both Chinese and foreign investors.
This year, Chinese regulators prohibited cryptocurrency trading and mining, with the country's central bank vowing last month to eliminate "illegal" cryptocurrency activity. As a result of the crackdown, cryptocurrency exchanges have discontinued ties with Chinese users.
China has also tightened its grip on public discourse, slamming show business for "polluting" society and demanding mobile browsers to stop spreading rumours, using sensationalist headlines, and publishing anything that goes against socialism's essential ideals.
The state planner said that "non-public" capital would no longer be invested in a variety of publishing activities, including live broadcasts, news gathering, editing, and broadcasting organisations, as well as news operations.
The NDRC further stated that private capital cannot be involved in the introduction of news released by foreign companies, as well as summits and award selection operations in the realm of news and public opinion.
The draught 2021 list of industries in which investment is limited or barred has been reduced to 117, down from 123 in 2020, according to the National Development and Reform Commission.
Industries that are not on the list are open to all investors and do not require any approvals.