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China orders energy-wasting factories to close

From the Bloomberg Businessweek:China is the world’s biggest steel producer and a major producer of other industrial materials as well. Its newest facilities are equipped with the latest technology but there are thousands of small, outdated paper mills and other businesses that local authorities are reluctant to close for the sake of jobs and tax revenue.

http://www.businessweek.com/ap/financialnews/D9HFNL700.htm

Posted in Exports.