Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Project

China unveils detailed plan to cut overcapacity in steel, coal

May 15, 2017


Abstract : China will phase out about 50 million tonnes of crude steel capacity and over 150 million tonnes of coal capacity this year, the country's top economic planner announced Friday.

BEIJING, May 12 (Xinhua) -- China will phase out about 50 million tonnes of crude steel capacity and over 150 million tonnes of coal capacity this year, the country's top economic planner announced Friday.

By the end of June, all facilities producing inferior-quality steel bars will be dismantled and supply of steel will be increased to avoid wild fluctuations of steel price, according to the implementation plan for cutting excess capacity in steel and coal sectors released by the National Development and Reform Commission and other departments.

As of Wednesday, 31.7 million tonnes of steel and iron capacity and 69 million tonnes of coal capacity have been cut, accounting for 63.4 percent and 46 percent of the annual goals.

The government will take more steps to help laid-off workers find work and encourage industrial mergers and reorganization, according to the plan.

The overcapacity cuts will target debt-laden "zombie enterprises" and adopt more methods based on market rules.

Scan the QR code and push it to your mobile phone

Keyword: overcapacity-cut

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial