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International Finance Corporation World Bank

Jill Shankleman

The focus of the work is on the impact of China’s oil and mining companies’ recent overseas expansion on the governance of resource wealth.

The paper covers four topics:
The structure of the Chinese oil and mining industries, focusing on overseas operations; the emergence over the last ten years within the large-scale, OECD-based extractive industry, of a “new model” for resource extraction focusing on minimizing negative social and environmental impacts and on resource revenue transparency; the development of corporate social responsibility concepts in China, and the extent to which this is leading Chinese oil and mining companies to apply the “new model” for resource extraction, and the role of Chinese infrastructure loans to resource-rich developing countries in resource wealth governance.