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CHINA PRESS: China is expected to meet its target of cutting at least 500
million tons of coal production capacity and 150 million tons of crude steel
capacity two years ahead of schedule, the Economic Information Daily (Xinhua
news subsidiary) said Wednesday citing an anonymous insider.
- Along with its campaign to cut overcapacity, China is also facing the problem
of insufficient supply of future capacity, EID said. Therefore, the total
capacity to be reduced next year will be lowered and the campaign will focus on
structural optimization of production capacity, as the government aims to
gradually replace the obsolete capacity with advanced ones, the newspaper said.
(Link to the story: https://bit.ly/2DkKKJu)