News Snapshot:
China’s ambitious carbon-neutrality goals do not bode well for miners in the coal-producing province of Shanxi, which is already facing financing difficulties after a series of high-profile domestic bond defaults last year. As a result, local authorities have stepped in to court financial assistance. At a conference attended by representatives of 160 financial institutions on Wednesday, local state firms and financial authorities joined efforts to shore up confidence by promising a timely repayment of mature debt. “[You] should actively underwrite or subscribe the bonds of provincial-government-owned coal miners to support the transformation towards high-quality development,” Chang Guohua, director of the...
