China calls for joint efforts to deal with overcapacity

BEIJING - Chinese Vice Premier Wang Yang has called for joint efforts to address industrial overcapacity.

Addressing a joint press conference on Tuesday for the eighth round of China-US Strategic and Economic Dialogues, Wang said both countries recognized that excess capacity in many industries, such as steel, is a global challenge and addressing it needs joint efforts.

"It is the result of the fragile recovery of the world economy and weak demand," the vice premier said.