Tighting funding regulation for Energy hungry projects

China will tighten funding rules for new projects to curb investment and worsening pollution in the world’s fourth-biggest economy, according to an official from the nation’s top economic planning agency.

China will “soon” reduce the amount of debt companies can use for projects in industries that have excess capacity, pollute heavily or use too much energy, said Luo Guosan, of the investment department of the National Development and Reform Commission. The official, interviewed on a government Website on Tuesday, didn’t detail the planned capital requirements.

Source: CCTV International