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Beijing orders new round of factory closures

China’s central government has issued a fresh edict to shut down outdated and inefficient plants in a dozen sectors as it seeks to raise industry competitiveness, cut pollution and conserve energy.

In yesterday’s statement, the Chinese government laid out clear plant-closure targets for the electricity, coal, coke, ferro-alloy, calcium carbide, steel, non-ferrous metal, construction materials, paper, ethanol, tannery and textiles sectors.

To ensure the upgrading of industrial facilities, new projects will not be approved unless they meet tougher land use and work safety requirements and tighter limits on environmental impact.

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(Source: scmp.com)