China is facing a power crunch and the country’s mammoth textile plants, aluminium smelters and soybean processing factories are being forced to curb production or in some cases, shut down. The major industrial regions of Jiangsu, Zhejiang and Guangdong, accounting for a third of the economy, are under pressure. The crisis has been triggered by rising coal and gas prices and Beijing’s push to curb emissions of greenhouse gases.
June 30, 2022
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