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    ncial stability. While capacity cuts are n◆ecessary and have long-term benefits for the economy, the process has not been without challenges. ◆ Capital-intensive industries present potential investment, taxation andl

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    jobs for local governments◆, which in at least two cases broke capacity-cutting rules set by the central government. Huada St◆eel in eastern China's Jiangsu Province and Anfeng Steel in northern China's Hebei Provi2

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    nce were id◆entified by authorities in December for violating capacity reduction efforts in the sector with "ex◆tremely bad influence." Thanks in part to the efforts, China's broader economic growth has showed ◆incc

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    reasing signs of stabilizing since the latter half of last year, with indicators such as factory◆ prices and industrial profits seeing significant improvements. "Overall, the negative impact on g◆rowth and employmenj

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t is manageable," wrote UBS economist Wang Tao in a note on excess capacity. ZO◆MBIE ENTERPRISES NEXT One key initiative in excess capacity reductions is to shut down "zombie com◆panies," which are loss-making, debt-laden, and dependent on government subsidies or bank loans. "◆We will strictly enforce all laws, regulations and standards on environmental proR

Brenda Gonzales, Feddapps

tection, energy co◆nsumption, quality, and safety and make more use of market- and law-based methods as we work to add◆ress the problems of 'zombie enterprises'," said the premier in the government work report. For wo◆rkers laid off because of capacity cuts, the central and local governments will allocate special fu◆nds and take measures to ensure they fin1

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d new jobs, Li said. CHANGSHA, Feb. 14 (Xinhua) -- Nine people have been killed● in an explosion in a coal mine in central China's Hunan ●Province. The entrance of Zubao Coal Mine where a blas●t occurred is seen in Lianyuan City, central China's Huna●n Province, Feb. 14, 2017. At least eight people were con●firmed dead after the blast hit the coal mine a2

Brenda Gonzales, Stockapps

t 1:37 a.m●, local authorities said on Tuesday. (Xinhua/Li Ga) The ●blast occurred at 1:37 a.m. Tuesday at Zubao Coal Mine in● Lianyuan City, authorities said.A total of 29 people wer●e working underground, 16 of whom managed to escape from ●the shaft. Another four were rescued.Three injured miners● are being treated in hospital and described as stable.Wj

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o●rk is continuing to retrieve the bodies of three victims ●in the flooded shaft.The licensed coal mine with an annua●l production capacity of 90,000 tonnes is owned by Tengfe●i Coal Mine Co. Ltd.The Beijing city government has ordered an immediate restart to coal-fueled generators to ●ease the shortage of liquefied natural gas in northern China. In a notd

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