The move comes as China’s government also promises to evaluate the environmental performance of listed companies and on November 16 it listed an investigation into the environmental responsibility of more than 2,000 A-share listed companies. The evaluation “will be based on the most prevalent international standards and conducted by third parties,” said government sources, and the results are planned to be released in a report in December 2012, along with a list of the most environment-friendly companies as an example for future industrial development.
Meanwhile, last month, the Vice-chairman of Federal of Hong Kong Industries said that minimum wages in the Pearl River Delta region are likely to go up by 16 – 20% from January 1st 2012. “This means textile companies here can expect a dramatic rise in labour costs and together with higher raw material prices,” it said, and could result in significant business failures for firms that are “highly labour intensive and produce basic textile products”.
Image: © Pei Ling Hoo | Dreamstime.com
