'Black' investment list released

SHANGHAI: Zhejiang merchants, China's most active private investors, have listed China's major coal-producing province, Shanxi, as the top dangerous place for investment. Meanwhile, Shanxi officials are vigorously pushing forward a coal industry being restructured by cutting small privately owned mines.

Debt-embroiled Dubai in United Arab Emirates is the other place on the black list, as a preliminary investigation shows merchants from Zhejiang have lost about 2 billion yuan ($293 million) in real estate investment there, according to the latest research by the Zhejiang Merchants' Association for the Promotion of Investment.

Kunming, Lianyungang and 60 other cities were voted as "best cities for Zhejiang investors in 2010", which was also released by the association over the weekend.