China's Hebei to cut iron, steel production in 2017

SHIJIAZHUANG - Hebei, China's main province for the production of iron and steel, has increased its iron and steel capacity-cutting targets for next year, the provincial government said Tuesday.

The province will cut 17.14 million tons of iron capacity and 19.86 million tons for steel in 2017, more than the original targets of 16.24 million tons of iron, and 15.62 million tons of steel, according to a decision made at the ongoing provincial economic work conference.

Cutting overcapacity is high on the reform agenda as excess capacity has weighed on China's overall economic performance. Hebei, also a major victim of severe air pollution, has vowed to cut 60 million tons of iron and steel capacity by the end of 2017.