China from next month will simplify the procedure for mandatory licensing of iron ore imports

The largest iron ore importer in the world intends to abandon its old policy of the system of licensing importers from the next month. This is stated in a statement by Chinese Prime Minister Lee Katsyan about the reduction of state intervention in the mechanisms of a market economy.

According to the report, starting on July 1, 2013, Chinese companies will be able to import iron ore and clayzer according to the licenses received through the Internet, while the procedure for obtaining them will be as simple and accessible to any enterprise. This will make it possible to freely access all Chinese businessmen to external resources of raw materials, which until today had the right to import into China only companies that received appropriate licenses in the Chinese metallurgical association and the Chinese Commercial Chamber of Metals, Minerals and Chemicals.

According to the Prime Minister of China, this step from his government will provide fair trade, reduce the costs of forced enterprises to pay commission licensed importers and will promote the development of a free market for metallurgical raw materials.

The mitigation of the conditions for obtaining licenses and the expansion of the circle of companies receiving the right to purchase iron ore outside China will be the first step on the path of complete cancellation of the licensing of such operations, whether Catsyan added.

Recall that China is a consumer of 60 percent of the entire iron ore mined on our planet.