The "Circular on the Arrangement of Budgetary Expenditure for State-owned Capital of the Provincial Level in 2012" was recently issued. The provincial finance will provide 103 billion yuan of state-owned capital budget for the reorganization project of Hebei Jinniu Chemical Co., Ltd., which is used to subsidize the Jinniu Chemical since the bankruptcy reorganization. Reimbursement of debt, resumption of production and placement of staff on standby expenses related expenses. In November 2011, the non-public issuance plan of Jinniu Chemical was approved, and it is planned to raise no more than 2.2 billion yuan in cash for the construction of a 400,000-ton/year PVC project, an annual output of 50,000 tons of paste resin relocation project and repayment of bank loans. Supplement liquidity. On December 2, 2011, Jinniu Chemical's non-public issuance of A shares was approved by the shareholders meeting. On December 29, 2011, the proposal was accepted by the China Securities Regulatory Commission. The budget arrangement once again created conditions for the development of Jinniu Chemical to achieve leapfrog development.
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