Posted on 03 Aug 2007
One pig iron maker with 600,000 tonnes per year capacity, Jinyun Steel, is included in a blacklist of 30 Chinese companies which are banned from receiving financial support from local bank. The State Environmental Protection Administration has black listed the 30 companies and has mandated China Banking Regulatory Commission (CBRC) and People’s Bank of China (PBC) to stop local banks from making new loans to any of the named companies.
This is a part of the new policy drawn up by local government to control environmental performance of highly polluting industries including steel industry.
