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Beijing to shut 1,000 manufacturing firms by 2020

from Reuters

Beijing will shut 1,000 manufacturing companies by 2020 under a years-long plan to restructure its economy, the official Xinhua news agency reported, citing a city official. The closures are part of a bigger initiative to balance and integrate the economies of the cities of Beijing, Tianjin and the surrounding Hebei province. The plan will also involve the construction of Xiongan, a new development in Hebei. more


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