Outdated industry plants to close

Source: Xinhua | May 5, 2009, Tuesday |

Print Edition

CHINA'S government will eradicate more obsolete industrial plants in the next three years to maintain economic growth and boost industrial restructuring and upgrading, the country's top economic planner said.

The government would eliminate 72 million tons of obsolete iron capacity and 25 million tons of obsolete steel capacity by 2011, said the National Development and Reform Commission on its Website late Sunday.

The plan also requires an elimination of 300,000 tons of obsolete copper-producing capacity this year, 600,000 tons of lead capacity and 400,000 tons of zinc capacity in two years.

Oil refiners with annual processing of less than 1 million tons will be shut.

Nation

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Outdated industry plants to close

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