Chinese official calls for speeding up capacity cuts
Updated: 2016-08-19 19:20
(Xinhua)
|
||||||||
BEIJING - A top Chinese official on Friday called for accelerating capacity reduction work in the steel and coal industries as progress remains slow in some regions.
Lian Weiliang, deputy head of the National Development and Reform Commission, did not mention which regions were lagging at Friday's press conference. However, in an earlier internal meeting, he identified Inner Mongolia, Fujian, Guangxi, Ningxia and Xinjiang as having disappointing results.
Lian described 2016 as the key period for advancing the country's capacity reduction target, which is to cut steel and coal capacity by about 10 percent in the next few years.
By the end of July, China had only achieved 38 percent of its goal for coal-production cuts and 47 percent of its steel reduction target for the year.
In a demonstration of government resolve on the issue, the State Council has decided to carry out a nationwide inspection of local efforts starting next week, according to Lian.
China is the world's largest producer and consumer of steel and coal. The two industries have long been plagued by overcapacity and have become a major drag on China's growth in recent years.
As part of efforts to slim down the two sectors, China's Ministry of Finance announced in May 100 billion yuan ($15.1 billion) in aid for steel and coal companies to resettle laid-off workers.
So far, some 30.7 billion yuan had been allocated, Lian said.
- Malaysian authorities say ship carrying diesel hijacked
- Army commander: THAAD would 'easily affect' China-US ties
- Twin panda cubs confirmed born in Vienna zoo
- Four killed in boat collision in Greece
- Premier Li to receive Aung San Suu Kyi
- S Korean president names 3 new ministers for partial reshuffle
Top 10 cities with highest GDP in H1
Chinese teenagers take gold, silver on 10m platform
US granted re-run to send China out of relay race
China inches toward gold after beating Netherlands
Premier Li welcomes Aung San Suu Kyi
Zhao wins China's first gold medal in men's taekwondo
World's top 10 innovative economies
Dancing, food and religion, all in a Xinjiang wedding
Most Viewed
Editor's Picks
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
![]()
|
Today's Top News
Trump outlines anti-terror plan, proposing extreme vetting for immigrants
Phelps puts spotlight on cupping
US launches airstrikes against IS targets in Libya's Sirte
Ministry slams US-Korean THAAD deployment
Two police officers shot at protest in Dallas
Abe's blame game reveals his policies failing to get results
Ending wildlife trafficking must be policy priority in Asia
Effects of supply-side reform take time to be seen
US Weekly
![]()
|
![]()
|