21 January 2019

Financing curbs on industries with overcapacity, paper says

New projects in industries with serious overcapacity will not be allowed bank loans, bond issues or stock market financing unless they secure specific government permits, the Economic Information Daily reported Thursday, citing government sources. The initiative is part of efforts to resolve the overcapacity problem in several industries, including iron and steel, cement, shipbuilding, the report said. In other initiatives, clear industrial standards and thresholds are likely to be set, according to the report.

– Contact HKEJ at di[email protected]



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