The central government has ordered stoppages at numerous industrial plants in areas surrounding Beijing in an effort to have a smog-free Asia-Pacific Economic Cooperation (Apec) summit in November. The six provinces affected account for roughly a quarter of China's total steel output and about 3 per cent of total industrial output, according to economists at Credit Suisse. Investors should expect an effect on output similar to that seen during the 2008 Beijing Olympics when the last major anti-smog campaign was ordered. Prepare for a dip in industrial production growth to 7 per cent in November.