Task Force Aims to Solve China's Energy Crisis

Word Count: 599 | Companies Featured in This Article: PetroChina BEIJING -- China has set up a cabinet-level task force to cope with its worst power shortage in four years, and a top energy official pledged that big cities like Beijing and Shanghai won't be affected even as other regions struggle with blackouts and electricity rationing. The task force's creation highlights the urgency of uncorking the nation's energy bottlenecks, which analysts have pointed to as a major threat to the economy. China's growth rate remains strong, but its power shortage is contributing to economic jitters already exacerbated by high inflation and commodity prices and a weakening global... [read full story]