What's news
China Daily | Updated: 2016-02-05 08:21
Govts & policies
Measures to tackle steel overcapacity
The State Council, China's cabinet, released a document on tackling overcapacity in the country's steel industry on Thursday, with the aim of cutting crude steel capacity by 100 million to 150 million metric tons within the next five years. The measures include banning the addition of new steel production capacity, speeding up iron ore resources tax reform and promoting the mergers and acquisitions of enterprises in the provinces where steel production dominates local economy.
Photo
