BEIJING (Reuters) - Twelve polluting enterprises have had crucial bank loans recalled, suspended or rejected as China's new "green-credit policy" kicks into action, Friday's China Youth Daily said.
Decades of heavy industrialization have made water from some of China's lakes and rivers so polluted it is no longer usable, with untreated waste from factories and other enterprises pumped directly into water sources. Click: China pulls bank loans to 12 major polluters.
I am happy to see this; where these polluting companies seemingly have no moral concerns about what they are doing, they most definitely have concern when it comes to their fat wallets. Hit 'em where it hurts 'em, it's well deserved.
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