China issues guideline to improve natural resource asset management system

BEIJING, July 13 (Xinhua) — China has released a guideline aimed at improving the management system for natural resource assets, which seeks to promote the secure, efficient and sustainable use of natural resources and preserve and increase the value of such assets.

The guideline, dated July 4 and jointly issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, calls for stronger overall protection, more efficient asset allocation, better protection of the rights and interests of asset owners, and enhanced supervision.

By 2030, China aims to establish a more robust system featuring better-defined entities responsible for performing relevant duties, a clearer picture of natural resource assets, stronger overall protection, more efficient allocation, and improved assessment and supervision.

By 2035, the mechanisms for managing natural resource assets are expected to operate smoothly, and a systematic and complete institutional framework for natural resource asset management is expected to be fully established, according to the document.

The guideline calls for improving unified surveys, monitoring and evaluation of natural resources, as well as inventories and accounting of natural resource assets.

It also seeks to improve the system of rights over natural resource assets, promote the separation of ownership and usage rights, and advance the unified confirmation and registration of rights to natural resources and immovable property.

The guideline allows for the combined allocation of different types of natural resource assets, in accordance with law, when they need to be used as a whole by the same user within a specific territorial space.

It further calls for stronger revenue management, supervision, assessment and reporting, along with improved legislation and law enforcement, greater sci-tech and digital support, and better green finance services in the sector.