Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

China makes better-than-expected progress in overcapacity cuts

Xinhua | Updated: 2017-10-11 16:26
Share
Share - WeChat

A worker at a steel company in Lianyungang, East China's Jiangsu province, in Jan 2015.[Photo/China Daily]

BEIJING - China has made better-than-expected progress in cutting overcapacity in the steel and coal sectors amid steadfast government efforts to push economic restructuring.

In Hebei province, where the task in cutting overcapacity is tough, 15.72 million tons of steel production capacity and 14.08 million tons of iron were cut in the first half of this year, progressing faster than the same period last year, according to local authorities.

China's steel industry has long been plagued by overcapacity. The government aims to slash steel production capacity by around 50 million tons this year.

Nationwide, 85 percent of the target for excess steel capacity had been met by the end of May, through phasing out substandard steel bars and zombie companies, with Guangdong, Sichuan and Yunnan provinces already meeting the annual target, data from the National Development and Reform Commission (NDRC) showed.

About 128 million tons of backward coal production capacity was forced out of the market by the end of July, reaching 85 percent of the annual target, with seven provincial-level regions exceeding the annual target.

As a large number of zombie companies withdrew from the market, companies in the steel and coal sectors have improved their business performance and market expectations.

Lifted by improved demand and lower supply due to government policies to cut steel overcapacity and enhance environmental protection, steel prices continued to pick up, with the domestic steel price index gaining 7.9 points from July to 112.77 in August, and increasing 37.51 points from a year earlier, according to China Iron and Steel Association (CISA).

"It is unprecedented, showing that overcapacity cuts have prompted the healthy and sustainable development of the sector and improved business conditions of steel companies," said Jin Wei, head of CISA.

Companies in the coal sector also gained profits. In the first half, the country's large coal companies registered total profits of 147.48 billion yuan ($22.4 billion), 140.31 billion yuan more than the same period last year, according to the NDRC.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 日本一道一区二区免费看| 被cao的合不拢腿的皇后| 小娇乳H边走边欢1V1视频国产 | 亚洲国产日韩欧美一区二区三区 | 亚洲精品乱码久久久久久不卡| 菠萝菠萝蜜在线免费视频| 国产精品无码一区二区三区不卡| 一本久久伊人热热精品中文| 狠狠色婷婷久久一区二区三区 | 动漫人物一起差差差漫画免费漫画 | 滴着奶水做着爱中文字幕| 国产精品亚洲四区在线观看| 亚洲AV成人中文无码专区| 玉蒲团之天下第一| 国产一级在线免费观看| 1000部拍拍拍18勿入免费视频软件 | 久久国产精品一国产精品金尊| 麻豆乱码国产一区二区三区| 成人美女黄网站色大色下载| 亚洲AV无码成人精品区在线观看| 狠狠综合久久综合88亚洲| 国产伦一区二区三区免费| 久久久久久亚洲精品成人| 永久在线观看www免费视频| 推油少妇久久99久久99久久| 国产精品福利久久香蕉中文| 亚洲大片免费看| 中文字幕在线视频播放| 欧美在线视频网| 你懂的免费视频| 国产91在线九色| 国产黄色片在线播放| 久久久久亚洲AV成人网| 欧美bbbbxxxx| 十七岁在线观看资源网| 韩国二级毛片免费播放| 国产精品人成在线播放新网站| www.精品国产| 日韩精品无码中文字幕一区二区| 亚洲欧美在线播放| 老湿机香蕉久久久久久|