China to slow raw materials imports

China will slow its booming metals sector and encourage producers to invest in mining to scale back its need for high-priced raw material imports, Reuters reported, citing Xiao Chunquan, a director at the State Development and Reform Commission. Xiao said China's fast-growing metals demand has raised the global prices of raw materials, making imports more expensive. Xiao said Beijing would implement preferential policies to help domestic companies explore resources overseas.