China’s official news agency announced on December 29, 2014 that Beijing Energy Investment Holding Co. and the Jingmei Group had been merged into a new 200 billion yuan ($32 billion) company to improve efficiency in the energy industry and reduce pollution. Lin Fusheng, head of Beijing’s Assets Supervision and Administration Commission, said The merger of Beijing Energy and Jingmei, a coal supplier based in the capital, will improve electricity supply. The new company, Beijing Energy Group Co., will manage coal-fired power plants, renewable energy projects, heating supply and coal mine development, Xinhua reported.
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