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|  | | NDRC to strengthen supervision over Chinese enterprises overseas investment |
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¡¡¡¡Recently, the Industry Department of NDRC has organised in Beijing a workshop titled Iron Ore Resources and Support Strategic Research for China's Iron and Steel Industry.
¡¡¡¡The participants contended that, from a global perspective, while high quality and easily exploited iron ore resources have entirely been controlled by major multinational companies, it is fairly expensive for Chinese enterprises to explore overseas iron ore resources.
¡¡¡¡The high cost as well as risk result when the only options are those iron ore resources more difficult to exploit, of low-grade or surrounded by the a difficult investment environment. However, with the skyrocketing price of iron ore, many domestic enterprises are very much willing to make investments overseas, which may require the government to strengthen macro guidance soon.
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