Dongguan Nine Dragons Paper Company, which belongs to the richest person in China, has been asked by the local government to save more energy.
Nine Dragons has been listed among other high energy consumption companies in Guangdong Province, and local agencies aim to strengthen the energy-saving management of it and 1000 other key enterprises to achieve the goal of saving more than 10 million tons of coal during the 11th Five-Year Plan Period. Among those enterprises, 154 will be directly supervised by the Economic and Trade Commission of Guangdong Province and forced to save energy within five years unless they go bankrupt, close, merge or undergo restructuring.
Nine Dragons is said to consume over 357000 tons of coal annually, ranking sixth in Dongguan.
Paper-recycling entrepreneur Zhang Yin became the first woman to top a ranking of China's richest people, amassing a fortune of US$3.4 billion after her company's shares were listed in Hong Kong and almost tripled in value. Nine Dragons Paper Holdings buys scrap paper from the U.S. for use in China, vaulted from 36th to replace retail tycoon Huang Guangyu, according to the Shanghai-based Hurun Report, which compiles the annual China Rich List.
