Crypto mining added to list for investment ban

Reuters
Regulators in China banned cryptocurrency trading and mining this year, with the country's central bank vowing to purge illegal cryptocurrency activities last month.
Reuters

China has added cryptocurrency mining to a draft list of industries in which investment is restricted or prohibited, a document released by the state planner showed on Friday.

The "negative list" details sectors and industries that are off-limits to both Chinese and foreign investors.

Regulators in China banned cryptocurrency trading and mining this year, with the country's central bank vowing to purge illegal cryptocurrency activities last month.

The state planner also said it was halting the investment of "non-public" capital into a variety of publishing activities, including live broadcasts, news-gathering, editing and broadcasting entities and the operation of news.

Non-public capital cannot be involved in the introduction of news released by overseas entities or summits and award selection activities in the field of news and public opinion, the National Development and Reform Commission added.

The draft 2021 list of industries in which investment is either restricted or prohibited has been cut to 117, the NDRC said, down from 123 in 2020.

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