From Caijing Magazine:
On August 1, five central government agencies jointly issued guidelines on large construction projects. According to the document, the departments”the National Development and Reform Commission (SDPC), the Ministry of Land and Resource (MLR), the State Environmental Protection Administration (ZHB), the State Administration of Work Safety (China Safety) and the China Banking Regulatory Commission (CBRC)”require local governments to inspect individually any projects with an investment of more than 100 million yuan launched in the first half of this year.
The unexpected administrative ruling requires regulation for projects with an investment of more than 30 million yuan in industries such as steel, electrolyzed aluminum, calcium carbide ferroalloy, charcoal, automobiles, electricity and spinning. All projects will be suspended until they meet the requirements of related laws and policies of industry guidelines and environmental and land approval procedures. [Full text]
