China Protests Reportedly Halt Factory Expansion

Before you go, we thought you'd like these...
Before you go close icon

A week-long protest against state-owned Sinopec's (NYS: SNP) proposed $8.8 billion refinery expansion has apparently proved successful for citizens of Ningbo, China. Government officials have agreed to halt additional chemical plant construction, according to a New York Times article published yesterday. 

Protests began earlier last week with a blocked road, and reportedly  grew to thousands. 

According to The New York Times, Ningbo's citizens have become increasingly upset with the proliferation of factories at "Ningbo Chemical Industrial Zone," alleging that pollution has augmented cancer rates.

The article China Protests Reportedly Halt Factory Expansion originally appeared on Fool.com.

Justin Loiseau has no positions in the stocks mentioned above. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners