China's steel base continues huge capacity cuts

Updated 2018-01-25 17:23:01 Xinhua

China's leading steel and iron producer Hebei Province will continue with huge capacity cuts in 2018, governor Xu Qin on Thursday.

Hebei would draft a new three-year plan to continue pushing forward industrial reform in the province, Xu said when delivering a government work report at the annual session of the provincial people's congress.

Xu said the province aims to cut production capacity of steel and iron, coal, concrete and coke by 10 million, 10.6 million, 1 million and 5 million tonnes, respectively, this year and eliminate all zombie enterprises in the steel and iron industry.

Since 2013, Hebei has set a target to shift its energy and industry structures from coal and steel to emerging, high-end industries. From 2013 to 2017, the province overshot its five-year target and cut production capacity of steel, iron and concrete by 69.93 million, 64.42 million and 70.57 million tonnes, respectively. It also reduced production of plate glass and coal consumption by more than 71.73 million weight cases and 44 million tonnes during the same period.

Hebei's capacity reduction is part of a national move to focus on quality and profit improvement, while cutting overcapacity in heavy industries.

China plans to eliminate 100 million to 150 million tonnes of crude steel capacity and 500 million tonnes of coal in the five years from 2016. The country completed its 2017 tasks for capacity cuts in both sectors.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 21 2018 16:50:36

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 21 2018 16:50:36

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 21 2018 16:50:36

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords