China Drafts a List of ‘Negative’ Industries to Ban Investments, Including Cryptocurrency Mining

According to a document issued by the state planner on Friday, China has added cryptocurrency mining to a draught list of businesses in which investment is limited or forbidden, although reducing the number of sectors on the list overall.

The “negative list” specifies which businesses and areas are off-limits to both Chinese and international investors.

This year, Chinese regulators outlawed cryptocurrency trading and mining, with the country’s central bank pledging last month to eliminate “illegal” cryptocurrency operations. As a result of the crackdown, cryptocurrency exchanges have terminated relations with Chinese users.

China has also tightened its grip on public discourse, slamming show business for “polluting” society and ordering mobile browsers to stop spreading rumors, using sensationalist headlines, and posting information that goes against socialism’s basic principles.

The state planner said that “non-public” money would no longer be invested in a range of publishing activities, including live broadcasts, news collecting, editing, and broadcasting companies, as well as news operations.

In the sphere of news and public opinion, non-public capital cannot be involved in the introduction of news issued by abroad companies, summits, or award selection activities.

The draught 2021 list of industries in which investment is limited or forbidden has been reduced to 117, down from 123 in 2020, according to the National Development and Reform Commission.

There are no restrictions on who can invest in industries that aren’t on the list.

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