China on Thursday announced new guidelines on foreign participation in industrial projects, 11138-66-2 under which Beijing will tighten restrictions on oil refinery projects while encouraging foreign investments in the development of unconventional resources. 115-77-5
The countrys top economic planning agency, the National Development and Reform Commission, issued the new guidelines in a statement published on its website.
The new rules on foreign investments are in line with the NDRC guidelines issued in April this year of a comprehensive list of industries that the government is encouraging, restricting and phasing out.
Under the new guidelines, fresh foreign investment in the refining sector are allowed only for projects with crude distillation capacities of above 10 million mt/year (200,822 b/d), 7440-31-5 catalytic crackers and hydrocrackers of over 1.5 million mt/year in capacity, or reformers of above 1 million mt/year.
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