Date
21 August 2017

Chongqing, Hebei to pilot steel capacity swap, paper says

Chongqing is set to buy some of Hebei province’s steel production quota so the municipality can start building a 3 million-metric-ton steel project, the Economic Observer reported Sunday. Under government policies to cut overcapacity in the steel industry, steel producers will only be allowed to open new plants after existing plants with the same amount of outdated capacity are closed. The move, which was endorsed by the National Development and Reform Commission and the Ministry of Industry and Information Technology, is the first under a government policy to allow provinces to trade obsolete steel capacity, the report said.

– Contact HKEJ at [email protected]

EL/MY/SK

 

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