Jiangsu moves to shut down 1,000 chemical firms
The government hopes to restrict production of chemical steel along the Yangtze, while encouraging a high-level industry base
The provincial government of Jiangsu, a Chinese coastal province north of Shanghai, is planning to shut down 1,000 chemical companies that failed to meet environmental protection or safety standards in the coming three years, The Paper reported.
The government will restrict and reduce the production capacity of chemical steel in areas along the Yangtze River, while encouraging the establishment of a high-level chemical steel industry base in the area.
Meanwhile, it is strictly forbidden to set up new chemical enterprises and parks within 1 kilometre of the mainstream and tributary shoreline of the Yangtze River.
The government also emphasized that the adjustment is a “strategic upgrade” considering the development of the industrial chains and innovation chains, instead of a simple enterprise move.