Pollution fight does not affect rise in prices – China’s environment authorities believe

Almaty. September 29. Silkroadnews – Pollution fight does not affect the rise in prices, China Daily reports quoting saying by experts of the Ministry of Environmental Protection of China.
“The Ministry of Environmental Protection has dismissed claims that China’s tough measures to rein in pollution, including environmental inspections and factory closures, have dampened industrial production and pushed up prices of industrial products,” the report said.
The claims, as noted, have been made by the German company Scheaffler.
“Scheaffler, a German company that makes bearings and precision components for the auto industry, estimated last week that the closure of its Shanghai supplier for pollution violations had cost the industry about 300 billion yuan ($45 billion),” the publication reads.
Director of environmental impact assessment of the ministry Cui Shuhong dismissed the claims, having pointed out that demand and supply are still the main factors dictating market prices. He also noted that economic data on several cities confirm the groundlessness of Scheaffler’s claims.
“In the first eight months, the added value of companies with annual revenue over 20 million yuan increased 6.7 percent year-on-year, while the national unemployment rate in the second quarter hit its lowest level since 2008. Both figures indicate steady growth,” the agency quoted him saying.
In addition, according to official data, 15 provincial areas inspected within the environmental audits framework, companies with annual revenues of more than 20 million yuan grew faster compared to the companies in areas that hadn’t been inspected for the environmental issues.
“The crackdown on polluters in Xingtai, Hebei province - which has been one of the worst cities for smog since 2013 - has improved the air quality, and the city's economic growth is now ranked No 1 among the 11 big cities in the province,” the report reads.