China's gold mining embraces reshuffle

CHINA - China's gold mining industry plans to form 12 internationally competitive groups by 2005 to meet challenges from the deregulation of the domestic gold market driven by the nation's accession to the World Trade Organization (WTO).

According to Huo Songling, an official from the Gold Administration under the State Economic and Trade Commission, these groups will be based on consolidations and mergers within the nation's 1,200-odd gold mining enterprises. Huo said the government hoped

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