China Protests Reportedly Halt Factory Expansion

A week-long protest against state-owned Sinopec's (NYSE: SNP  ) proposed $8.8 billion refinery expansion has apparently proved successful for citizens of Ningbo, China. Government officials have agreed to halt additional chemical plant construction, according to a New York Times article published yesterday. 

Protests began earlier last week with a blocked road, and reportedly  grew to thousands. 

According to The New York Times, Ningbo's citizens have become increasingly upset with the proliferation of factories at "Ningbo Chemical Industrial Zone," alleging that pollution has augmented cancer rates.

Justin Loiseau has no positions in the stocks mentioned above. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.

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