Economics
China's Pollution Crackdown Is Gaining Momentum
- Pollution crackdown threatens hundreds of thousands of firms
- Central bank governor drops hints on 3Q GDP upside surprise
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In pockets of China’s industrial heartland, a government push to clean up the environment and cut excess output is starting to bite: Furnaces have gone cold, the lights have been switched off, migrant workers are drifting back home.
Liu Xiaoping, a resident of the sprawling, smoggy, steel-making hub of Jinan in the northeast is among the campaign’s collateral damage. Standing in a cul-de-sac where most factories were closed on a recent weekday visit, he says officials ignored his pleas for more time to comply with regulations at his 20-year-old plastic mold business. As officials threatened to cut off electricity, Liu shut down his factory before they could do so.