Caixin
BUSINESS & TECH

Forced Closure Costs Drugmaker 11 Million Yuan in Profit

By Song Shiqing
North China Pharmaceutical Co. resumed production on Monday after a monthlong shutdown because of smog. The closure cost the company 11 million yuan in profit. Photo: IC
North China Pharmaceutical Co. resumed production on Monday after a monthlong shutdown because of smog. The closure cost the company 11 million yuan in profit. Photo: IC

North China Pharmaceutical Co. Ltd. said on Monday it lost 11 million yuan ($1.6 million) in profit during a prolonged production halt to combat smog in one of the first such disclosures of how China’s drive to clean up pollution is affecting industry.

As part of its campaign to clean up the country’s smog, local governments occasionally order nearby factories to halt production when air quality deteriorates too much. They are also gradually shutting down some of the worst polluting factories.

You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright ©2017 Caixin Global Limited. All Rights Reserved.