22 February 2019

Cabinet acts on overcapacity in five sectors, Xinhua says

The State Council, the country’s cabinet, has identified five major sectors facing serious production overcapacity, namely cement, electrolytic aluminum, sheet glass, shipping and steel, the official Xinhua news agency reported Tuesday, citing a set of guidelines on overcapacity posted on the government website. For the five industries, new projects expanding capacity are forbidden, projects under construction should be reappraised, illegal capacity should be cleared up, outmoded capacity should be eliminated in an orderly way, and efforts should be made on standards and entry requirements, according to the guidelines. The cabinet also urged industries to achieve breakthroughs in core technology and enterprise management through innovation as it encouraged mergers in the five sectors, the report said.

– Contact HKEJ [email protected]




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