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
Economy

China's steel base continues huge capacity cuts

January 26, 2018


Abstract : China's leading steel and iron producer Hebei Province will continue with huge capacity cuts in 2018, governor Xu Qin on Thursday.

钢铁

SHIJIAZHUANG, Jan. 25 (Xinhua) -- China's leading steel and iron producer Hebei Province will continue with huge capacity cuts in 2018, governor Xu Qin on Thursday.

Hebei would draft a new three-year plan to continue pushing forward industrial reform in the province, Xu said when delivering a government work report at the annual session of the provincial people's congress.

Xu said the province aims to cut production capacity of steel and iron, coal, concrete and coke by 10 million, 10.6 million, 1 million and 5 million tonnes, respectively, this year and eliminate all zombie enterprises in the steel and iron industry.

Since 2013, Hebei has set a target to shift its energy and industry structures from coal and steel to emerging, high-end industries. From 2013 to 2017, the province overshot its five-year target and cut production capacity of steel, iron and concrete by 69.93 million, 64.42 million and 70.57 million tonnes, respectively. It also reduced production of plate glass and coal consumption by more than 71.73 million weight cases and 44 million tonnes during the same period.

Hebei's capacity reduction is part of a national move to focus on quality and profit improvement, while cutting overcapacity in heavy industries.

China plans to eliminate 100 million to 150 million tonnes of crude steel capacity and 500 million tonnes of coal in the five years from 2016. The country completed its 2017 tasks for capacity cuts in both sectors.

Scan the QR code and push it to your mobile phone

Keyword: China-steel 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