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China pledges to reduce more obsolete capacity
By Richard Fu |
January 27, 2011, Thursday
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Online Edition
Online Edition
CHINA will continue to reduce obsolete capacity in the steel and other energy-intensive industries after meeting targets in the past year, the Ministry of Industry and Information Technology said today.
Output growth in the six energy-intensive and pollution-prone sectors including steel and petrochemical fell to 13.5 percent in 2010 from 19.6 percent in the first quarter of last year, as the government curbs expansion in these sectors.
The energy consumption per unit of production for major industrial companies was also expected to fall by more than 6 percent last year, meeting the five-year (2006-2010) target, the ministry said.
China's crude steel output rose 9.3 percent to an all-time high of 627 million tons last year while its capacity has exceeded 700 million tons, Zhu Hongren, a spokesman for the ministry, said at a briefing in Beijing.
"The capacity of cement also far exceeded actual production," Zhu said, adding the government will both phase out outdated capacity and prevent blind expansion.
In the steel industry, China has made progress in improving its concentration rate by mergers and acquisitions. The top 10 steel makers raised their combined contribution to the nation's total crude steel output to 48.1 percent last year from 44.5 percent in 2009, according to the ministry. Industry sources said the government aims to raise this to 60 percent by 2015 as part of the sector's five-year plan.
Output growth in the six energy-intensive and pollution-prone sectors including steel and petrochemical fell to 13.5 percent in 2010 from 19.6 percent in the first quarter of last year, as the government curbs expansion in these sectors.
The energy consumption per unit of production for major industrial companies was also expected to fall by more than 6 percent last year, meeting the five-year (2006-2010) target, the ministry said.
China's crude steel output rose 9.3 percent to an all-time high of 627 million tons last year while its capacity has exceeded 700 million tons, Zhu Hongren, a spokesman for the ministry, said at a briefing in Beijing.
"The capacity of cement also far exceeded actual production," Zhu said, adding the government will both phase out outdated capacity and prevent blind expansion.
In the steel industry, China has made progress in improving its concentration rate by mergers and acquisitions. The top 10 steel makers raised their combined contribution to the nation's total crude steel output to 48.1 percent last year from 44.5 percent in 2009, according to the ministry. Industry sources said the government aims to raise this to 60 percent by 2015 as part of the sector's five-year plan.
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