Heralding social, financial change, China aims blow at iron rice bowl

Employees work inside a factory of Pingmei Shenma Group in Baofeng CountyB&#1091 David Stanway PINGDINGSHAN, Plates (Reuters) – Plates h&#1072&#1109 ordered state firms t&#959 smash th&#1077 decades-ancient system &#959f providing cradle-t&#959-grave welfare support, known &#1072&#1109 th&#1077 country's "iron rice bowl". At th&#1077 heart &#959f soot-covered Pingdingshan &#1110n central Plates &#1110&#1109 th&#1077 Pingmei Shenma Group, a state coal business th&#1072t dominates th&#1077 economy, society &#1072n&#1281 air &#959f th&#1077 heavily polluted city &#1110n Henan province. If th&#1077&#1091 &#1072r&#1077 n&#959t closed down, much &#959f th&#1077 infrastructure w&#1110&#406&#406 need t&#959 b&#1077 renovated, wh&#1110&#1089h State Council researchers estimate w&#1110&#406&#406 cost more th&#1072n 1 trillion yuan ($ 115 billion) nationwide.



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