The mainland has started work on 22 major investment projects in the western provinces this year worth 577.8 billion yuan (HK$718.4 billion) to boost economic development in the country's vast hinterland, the National Development and Reform Commission said. The government has made it a national strategy to narrow the region's wealth gap with the prosperous coastal provinces. Reuters
Chongqing Iron & Steel says the Chongqing government is granting it 500 million yuan in compensation for the forced relocation of its plant to help protect the city's environment. The firm's parent, Chongqing Iron & Steel (Group), has undertaken to help it obtain at least 1.5 billion yuan from the government to offset the operating losses incurred during the relocation. Eric Ng