Translated by: MOS Translation Group – Snorlax
On Sept. 25 Caixin news reported that the Chinese Communist government is urging local governments to reduce energy consumption. Back in August, several provinces, including Zhejiang, were designated as “second-level warning” in a document published by the Communist Party’s Development and Reform Commission. This means that Zhejiang and other provinces are already facing serious challenges in terms of energy.
As a manufacturing hub on the eastern coast of the Communist Party, about 160 energy-intensive companies in Zhejiang province received shutdown orders this time, mainly in the textile, dyeing and chemical fiber industries. Nearly 80 percent of the affected companies are located in Ma’anshan. The shutdown order was issued in the region from Sept. 21 to 30.
With the rise in international energy prices and the shortage of foreign exchange in the Chinese Communist Party, there is a shortage of coal supply in the country. Power generation and supply has apparently been unable to meet the needs of energy-intensive industries such as textiles and petrochemicals.
Companies ordered to stop production will delay order delivery. This can greatly affect supply chains and capital chains. Worse still, it may lead to a chain reaction of bankruptcy and unemployment.
(This article represents the views of the author only)
Proofread by： Lakers
Edited by： Lakers
Posted by： Lakers
Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.