SHANGHAI, Apr.13 (CBI China) -- On April 11, 2007, China's National Development and Reform Commission (NDRC) issued an emergency notification to control overheating investment in the aluminum smelting industry. Investment growth reached 124.2% YoY over the previous two months.
According to the notification, the government will take the following measures:
1) Control on-going and to-be-built projects by raising the market entry standard in terms of capital fund and systemize the market entry process;
2) Coordinate policies for industry, land, environmental protection, and financing. Enhance regulation of the domestic aluminum smelting market;
3) Accelerate the phase-out of inefficient plants and production processes;
Strengthen environmental protection efforts.
NDRC will release a catalogue of enterprises that meet capital fund entry standards. Local governments at all levels are required to report the results before June 25, 2007.