Oil industry reform enters deep water

ON SUNDAY, the National Development and Reform Commission and the Ministry of Commerce issued two regulations that provide policy support for foreign capital to enter the oil and mineral industries. Beijing News comments:

It is a significant move of the two agencies because it helps to push forward the ongoing reform of the oil and mineral industries.

For a long time, domestic oil and mineral enterprises found it hard to independently do business due to a lack of proper technologies, while their foreign counterparts were restricted from independently developing their own businesses.