23 April 2019

Overcapacity ‘still afflicts industry’, paper says

China’s industrial enterprises are still plagued by overcapacity, with utilization rates below 75 percent in some sectors, Global Times reported Monday, citing a report by the Ministry of Industry and Information Technology. The ministry said the problem had spread since 2012 from traditional industries — including iron, steel and chemicals — to emerging ones such as carbon fiber and solar power. It forecast China’s industrial output growth to be around 9.7 percent for 2013, down from last year’s 10 percent.

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