Curbs Target China's Aluminum Sector
Source: Xinhua |
April 21, 2011, Thursday
|
Print Edition
Print Edition
CHINA is making efforts to curb overproduction in its aluminium sector, according to a notice posted on the website of the Ministry of Industry and Information Technology yesterday.
Local governments must immediately halt electrolytic aluminium and forbid any practices to raise output capacity in the sector, the notice said.
Also, local governments should cancel policies preferential to aluminium producers on taxes, land usage and electricity supply, the notice said.
The aluminium sector showed obvious signs of overheating in the first two months this year, the ministry's spokesman Zhu Hongren said at a press conference.
The sector's profit shrank 41.8 percent in the first two months year on year due to sharp competition, Zhu said.
He attributed the surplus capacity problem to some local governments seeking quick economic growth in the first year of the 12th Five-Year Plan period through 2015 and some not seeing the larger picture across the country.
Local governments must immediately halt electrolytic aluminium and forbid any practices to raise output capacity in the sector, the notice said.
Also, local governments should cancel policies preferential to aluminium producers on taxes, land usage and electricity supply, the notice said.
The aluminium sector showed obvious signs of overheating in the first two months this year, the ministry's spokesman Zhu Hongren said at a press conference.
The sector's profit shrank 41.8 percent in the first two months year on year due to sharp competition, Zhu said.
He attributed the surplus capacity problem to some local governments seeking quick economic growth in the first year of the 12th Five-Year Plan period through 2015 and some not seeing the larger picture across the country.
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