China Issues 13th Five Year Plan for the Non-ferrous Metals Industry

On October 18, 2016, the Ministry of Industry and Information Technology of China (MIIT) issued the Non-ferrous Metals Industry Development Plan (2016-2020) to guide the non-ferrous metals industrys development for the 13th Five Year period covering from 2016 to 2020. Targeting an 8% average annual growth rate of the industry value added, the Plan prioritizes the following tasks for the next five years: promoting innovation; accelerating the adjustment of industrial structure; developing high-end materials such as materials for integrated circuit use; promoting sustainable development; increasing resources supply capacity; promoting smart manufacturing; expanding application areas; and deepening international cooperation. As supporting measures, the Plan calls for coordinating fiscal, taxation, financial, and trade policies with the industrial policy, promoting bank-enterprise cooperation, increasing financing support to backbone enterprises and major international cooperation projects, adequately utilizing existing government funds, encouraging local governments and social funds to increase input, implementing preferential tax policies for mines, M&A, and restructurings, and establishing insurance compensation system for new materials development.