China Rolls Out Aid to Help Power Firms and Save Rice Harvest

Shanghai’s famous Bund went dark on Monday as authorities turned off the waterfront district’s decorative lights to save energy. China extended power cuts in some areas to cope with soaring electricity demand during a scorching heat wave. Photo Composite: Emily Siu

Aug. 24, 2022 10:33 am ET

BEIJING–China’s government unveiled tens of billions of dollars of economic support for its power and agricultural industries, which have been grappling with a record heat wave and drought that have cut into industrial production.

The State Council, which serves as China’s cabinet, approved 200 billion yuan ($29 billion) in new debt for the country’s power generators and an additional 20 billion yuan fighting the drought and aiding the nation’s rice harvest.

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