China sets up $32b energy company to cut Beijing pollution

And boost efficiency in the energy industry.

According to an article by Bloomberg, China’s government said it merged Beijing Energy Investment Holding Co. and Jingmei Group into a new 200 billion yuan ($32 billion) business in line with its policy to improve efficiency in the energy industry and reduce pollution.

"The merger of Beijing Energy and Jingmei, a coal supplier based in the capital, will improve electricity supply, Lin Fusheng, head of Beijing’s Assets Supervision and Administration Commission," Bloomberg reported.

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