China smog makes capital “barely suitable” for life: report

China smog makes capital “barely suitable” for life: report

Thursday, February 13, 2014 – 11:16

Reuters

SHANGHAI – Severe pollution in Beijing has made the Chinese capital “barely suitable” for living, according to an official Chinese report, as the world’s second-largest economy tries to reduce often hazardous levels of smog caused by decades of rapid growth.

Pollution is a rising concern for China’s stability-obsessed leaders, keen to douse potential unrest as affluent city dwellers turn against a growth-at-all-costs economic model that has tainted much of the country’s air, water and soil.

The report, by the Beijing-based Social Science Academic Press and the Shanghai Academy of Social Sciences, ranked the Chinese capital second worst out of 40 global cities for its environmental conditions, official media reported on Thursday.

China’s smog has brought some Chinese cities to a near standstill, caused flight delays and forced schools to shut.

Beijing was hit by severe levels of pollution at least once every week, according to the 2012 Blue Paper for World Cities report. That was on top of a significant level of air pollution covering the capital for 189 days in 2013, according to city’s Environmental Protection Bureau.

Though China’s record on pollution is patchy, the government said on Wednesday it would set up a 10 billion yuan (S$2.1 billion) fund to fight air pollution, offering rewards for companies that clean up operations.

Overall the government has pledged to spend over 3 trillion yuan ($494.85 billion) to tackle the problem, creating a growing market for companies that can help boost energy efficiency and lower emissions.

Beijing will also shut 300 polluting factories this year and publish a list of industrial projects to be halted or suspended by the end of April, state news agency Xinhua said.

 

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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