Moody’s Investors Service said the risk more Chinese property developers will default, after the collapse of Zhejiang Xingrun Real Estate Co., will make it harder for them to raise funds just as apartment sales cool.
China has closed 10.71 gigawatts of inefficient small coal-fired power plants as of July 15, two months ahead of schedule, the official Xinhua News Agency reported today, citing the National Energy Administration.
China’s passenger-car deliveries to dealers rose to a record in November as customers rushed to take advantage of government incentives supporting vehicle-buying that may expire at the end of the year.
Jiangxi Copper Co. , China’s biggest producer of the metal, will spend as much as 5 billion yuan ($762 million) this year, Financial Manager Jiang Liehui said today at a media briefing in Hong Kong. The company will increase its capacity to 1.5 million tons by 2015, Jiang said.
China sent hundreds of officials to assist people hurt in a gas-pipeline blast in the city of Nanjing and to retrieve 3,000 barrels of hazardous chemicals that washed into a river in Jilin as authorities grappled with the latest in a string of industrial accidents.