The central government agency responsible for China's economic policy has retracted its past position that cryptocurrency mining could not be classified as an industry.
China's National Development and Reform Commission (NDRC) announced the final version of the amendment to the Manual of Industrial Restructuring Guidelines.
The amendment will enter into force on January 1, 2020.
The NDRC held a press conference of the final revision of the Manual of Industrial Restructuring Guidelines on Nov 5th. The official explained that since the draft amendment, about 2500 issues were received from the public on various issues, most of which were reflected in the final version. However, the commissioner made no comment on the bitcoin mining industry.
On the other hand, in Sichuan Province, which is known to be packed with bitcoin mining sites, after President Xi's urge to promote blockchain, it has been argued that surplus hydro energy should be used as a new growth engine for mining and cryptocurrency.
Earlier this year, the NDRC has issued a draft of the revised Manual of Industrial Restructuring Guidelines and released a list of industries that should be recommended or discontinued. At the time, the commissioner said, “Bitcoin mining industry is an undesirable and should be stopped immediately, along with industries with low or no productivity, or causing extreme environmental pollution.”