Tag: trillion-yuan

By David Stanway PINGDINGSHAN, China (Reuters) – China has ordered state firms to smash the decades-old system of providing cradle-to-grave welfare support, known as the country's “iron rice bowl”. At the heart of soot-covered Pingdingshan in central China is the Pingmei Shenma Group, a state coal conglomerate that dominates the economy, society and air of…