Premier Li throws weight behind steel, coal capacity cuts
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Premier Li Keqiang ordered detailed investigation of steel and coal industries to identify companies violating government directives to cut inefficient production capacities, Caixin reported Thursday night.
Non-performing loans underestimated: survey
Banks’ non-performing loans may be as high as 3% of the total, according to a survey by China Orient Asset Management Co. cited by Caixin on Thursday afternoon. The previous estimate in September was 1.76%. The steel and coal industries look most at risk.
Hubei plans public-private partnership boost
Hubei Province plans public-private partnership programs in infrastructure and public services worth US$31.62 billion, reported YiCai on Thursday afternoon.
Forestry services join public-private partnerships
Wildlife and forest protection are just two areas targeted for public-private partnerships and will have the support of the National Development and Reform Commission and State Forestry Administration, the Shanghai Securities Journal reported Thursday evening.
Poorer areas to get US$122.6 bln investment in transport
Government plans to spend 848 billion yuan (US$122.6 billion) on highways, roads and other transport links in impoverished regions, the Securities Daily reported. The projects will be open to public-private partnerships.
Railway projects worth US$5.99 bln approved
Two railway projects worth 41.415 billion yuan (US$5.99 billion) were approved by the National Development and Reform Commission, Sina Finance reported Thursday afternoon. The first connects Zhongwei to Lanzhou, the second links Chaoyang in Liaoning province to the Qinghuangdao-Shenyang high-speed line. Zhongwei is a city in the Ningxia province and Lanzhou is the capital of Gansu province.
Listed firms linked to plant collapse that killed 67 workers
Jiangxi Ganneng Co., SDICPower Holdings Co. and Hong Kong-listed China Energy Engineering Group Co. are involved in a construction project in Jiangxi Fengcheng where a scaffolding collapse on Thursday killed 67 workers, Caixin reported. Shares in Jiangxi Ganneng were suspended.
Local governments called out on transparency
The Finance Ministry will work with local governments to ensure they are giving proper public disclosure of their accounts and expenses where required by law, according to Xinhua news agency. A list will be made available next year to show the most transparent local authorities.