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Friday, Jul 26
China has ordered over 1,400 companies in 19 sectors to reduce excess output this year as part...
China has ordered over 1,400 companies in 19 sectors to reduce excess output this year as part of the government's strategy of re-balancing the economy. The firms affected include those in the steel, ferroalloys, electrolytic aluminum, copper smelting, cement and paper industries. "This is a real move and is very specific," says ANZ economist Raymond Yeung. "They maintain the overall tone that they’re not focusing on the quantity of growth but the quality of growth."