China to restrict financing in cases of overcapacity

Newswire

BEIJING, Dec 23 (Reuters) - China on Wednesday said that it will restrict bond and equity financing for firms in polluting sectors or industries already weighed down by overcapacity. The central bank, in a statement jointly made with the securities regulator and other state agencies, said that it would work to boost financial support for alternative energy, electric automobile and other sectors. (Reporting by Zhou Xin, Langi Chiang, Jason Subler and Simon Rabinovitch; editing by Ken Wills)

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