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Shandong aluminium industry to get government support
General06/Jul/2016Shanghai Metals MarketThe government of Shandong, among China’s top three aluminium producing regions, recently released a document that will offer financial support to real economy.
According to the document, financial institutions are encouraged to offer timely and strong support to technical upgrade projects in traditional industries, including aluminium, steel, cement, etc. Besides, financial institutions are also guided to adopt various measures such as relending, extended loans and asset swap to help companies in traditional industries that have strong orders, famous brand, good profit, who face temporary cash tightness.
Aluminium capacity in Shandong takes up 22.5 per cent of China’s total capacity. The latest move will help local aluminium smelters by reducing their financing costs and difficulties, SMM pointed out.
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