3 China Mining Stocks In Focus As Policy Spending Lifts Resource Demand

China and Hong Kong are back in focus as policy support, AI investment and fiscal spending reshape expectations for infrastructure and industrial upgrade beneficiaries. Fresh capital is circling around projects tied to government-backed investment, while the Hong Kong market is seeing renewed interest in internet platforms, healthcare, finance and high-dividend stocks. At the same time, higher for longer US rates and energy risks are keeping risk management front and center. This article picks out 3 stocks from the policy driven screener that appear most exposed to these news catalysts, and breaks down what that could mean for your watchlist.

Zhaojin Mining Industry (SEHK:1818)

Overview: Zhaojin Mining Industry is a gold and base metals group that explores, mines, processes, smelts and sells gold and other metallic products, including branded Au9999 and Au9995 bullion, in China and overseas. It also offers copper mining, sulphur ore processing, engineering, land exploration, trading and support services such as technical advisory and finance.

Market Cap: HK$75.10b

Investors looking at policy driven infrastructure beneficiaries may want to pay close attention to Zhaojin Mining Industry. The company is positioned in gold and copper, which can be sensitive to shifts in fiscal expansion, energy costs and inflation expectations, all currently in focus as Chinese policymakers step up spending and global rates stay higher for longer. Recent earnings momentum and improved net profit margins at 20.1% indicate that the business has been converting that setup into stronger profitability. However, a higher P/E and reliance on external borrowing highlight funding and valuation risk. Board reshuffles through 2026 introduce governance questions, while also bringing deep sector experience into executive roles. The combination of growth, policy exposure and balance sheet pressure makes the next phase particularly important to understand in detail.

Zhaojin Mining Industry’s earnings momentum and policy exposure can look compelling, yet the higher P/E and borrowing needs raise questions that many investors may be glossing over. Get the full picture in the analysis report for Zhaojin Mining Industry

Zangge Mining (SZSE:000408)

Overview: Zangge Mining is a resource producer that mines and processes potassium chloride and lithium carbonate, while also developing and trading other mineral products such as copper, silver and molybdenum for customers in China and overseas.

Operations: Zangge Mining currently generates essentially all of its reported CN¥3,740.2m in revenue from China, with only minor segment adjustments.

Market Cap: CN¥126.46b

Policy support for infrastructure and industrial upgrades puts Zangge Mining in the spotlight as a supplier of key materials tied to construction and energy transition themes. The company has reported strong earnings and revenue growth, with high net profit margins around 87.7% and a P/E below both the China market and Chemicals sector averages, which some investors may see as an appealing mix of growth and valuation support. At the same time, heavy reliance on external borrowing, significant non cash earnings and a relatively new board raise questions about balance sheet resilience and earnings quality. With a 3.72% dividend yield that is not well covered by free cash flow, the upcoming 2025 results in June 2026 could be a key moment to test how durable this story really is.

Zangge Mining’s high margins and below market P/E hint at a story many investors may be underestimating. The real question is whether the balance sheet and earnings quality fully back it up, which the 3 key rewards and 2 important warning signs (1 is major!) examines in more detail.

Shanjin International Gold (SZSE:000975)

Overview: Shanjin International Gold is a Beijing based miner that explores, extracts and trades precious and non ferrous metals in China, with a focus on gold, lead, zinc and silver deposits.

Operations: Shanjin International Gold currently generates all of its reported CN¥18.72b in revenue from China.

Market Cap: CN¥64.82b

Shanjin International Gold stands out in this policy driven screener because it sits at the crossroads of infrastructure demand and gold exposure while still trading at a steep discount to estimated fair value. Earnings and revenue are both expected to grow at double digit rates, with a current net profit margin of 19.6% and high Return on Equity of 22.1%, which together point to an efficient and profitable core business. At the same time, the company relies heavily on external borrowing and has an unstable dividend record, and the rapid pace of board changes and recent amendments to the articles of association mean governance is still evolving. For investors watching fiscal stimulus and resources closely, this mix of growth, valuation support and genuine risk makes Shanjin International Gold hard to ignore.

Shanjin International Gold’s mix of double digit growth expectations, 19.6% margins and 22.1% ROE could be masking the real story. See how the 4 key rewards and 1 important warning sign might change your view on its policy driven upside and governance risks.

The three stocks in this article are only a starting point, with the full policy driven screener surfacing 31 more companies that the China Policy-Driven Infrastructure and Industrial Upgrade Beneficiaries screener has identified with equally compelling narratives. Use Simply Wall St to filter for the specific catalysts and narratives that matter to you, so you can analyze and prioritize the highest conviction opportunities in this theme.

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Seeking Fresh Alternatives Beyond These Stocks

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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