Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Cutting steel overcapacity on track
Print Edition
EFFORTS to reduce China’s steel production overcapacity are forging ahead according to plan, the top economic planner said yesterday.
In a medium-term roundup of the drive, the National Development and Reform Commission said, in an online statement, that the central government has rolled out general guidelines and the NDRC has also strongly guided local governments and major steel producers in drawing their own plans to cut capacity.
The State Council guidelines, issued on February 4, dictated that steel production capacity must be cut by 100 million tonnes to 150 million tonnes over the next five years, with 45 million tonnes cut in 2016.
Xia Nong, head of the NDRC industry department, said that the resolute measures have proven effective, the “People’s Daily” reported yesterday.
The drive will pick up speed in the second half of this year to achieve the goal, he said.
Inspection teams will be dispatched to local governments to oversee their work starting from mid-August, the report said.
Crude steel output posted a year-on-year fall of 1.1 percent in the first half of 2016.
China’s crude steel production capacity utilization rate of 71.2 percent in 2015 was higher than the global average of 69.7 percent, data from the World Steel Association showed.
In the first half year, China slashed steel capacity by 13 million tons, about 30 percent of the planned cuts for 2016, a figure in line with expectations, said Feng Fei, vice minister of industry and information technology.
The campaign gathered pace in July, when another 17 percent of the target was finished.
In the first half year, work focused on breaking down tasks so that they could be allocated to provincial-level regions, and on measures to support steel capacity cuts, Feng said.
In the second half, capacity cuts and supportive measures will gain speed, according to Feng.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
