From China Daily via China Economic Net:
In a bid to curb overheated investment, the State Council has given local governments one month to report new industrial projects that have been approved against national rules.
The ultimatum aims to halt some projects that fail to meet industry policies, land and credit approval procedures and environmental regulations, said Zhang Zhiqiang, a senior official in charge of fixed-assets investment with the National Development and Reform Commission (NDRC), the top economic planner.
The commission on Friday unveiled the central government circular, which ordered local authorities to self-examine projects launched between January and June. Local authorities should report their final results by the end of August.[Full Text]
Also see China, Largest Command Economy, Isn’t Responding to Commands
