Shanghai ordered vehicles off the road and factories to cut production after pollution reached hazardous levels, as Hong Kong announced plans to introduce an air quality index that assesses health risks from smog.
Shanghai warned children and the elderly to stay indoors for a second day as air quality in China’s commercial hub improved marginally from the worst levels since authorities started tracking pollution levels last year.
The Shanghai Environment and Energy Exchange started trading today, with carbon permits selling for 27 yuan ($4.43) a metric ton as China promotes seven pilot programs as tools for reducing the world’s highest emissions.
Honeywell International Inc. will form three joint ventures in China to supply the country’s new passenger plane program, Shanghai Daily said, citing Mark Howes, president of the company’s Asia-Pacific aerospace unit.
McDonald’s Corp. restaurants in Shanghai temporarily suspended food-delivery service after the chain’s phone system froze during an upgrade, Shanghai Daily said, citing Liu Xiaolin, a company public relations officer.
PetroChina Co. Chief Financial Officer Zhou Mingchun called on China’s government to raise the threshold for the windfall tax on oil and combine it with other resource levies, the Shanghai Daily reported today.
Chinese investors have entered the French wine futures market “as a big player,” which may boost market prices, Shanghai Daily News reported, citing Hubert de Bouard, owner of Chateau Angelus in the Bordeaux region.