Xi tells He­bei to has­ten over­ca­pac­ity re­duc­tion

China Daily European Weekly - - News Digest -

He­bei prov­ince needs to quicken the pace of over­ca­pac­ity re­duc­tion this year, Pres­i­dent Xi Jin­ping said on Jan 24. Xi said stepped-up ef­forts would lead to healthy eco­nomic growth through de­vel­op­ing emerg­ing in­dus­tries such as dairy pro­duc­tion. There should be zero tol­er­ance for al­low­ing “zom­bie” fac­to­ries and en­ter­prises pre­vi­ously shut down to res­tart op­er­a­tions, he said. Cheat­ing must not be per­mit­ted, the pres­i­dent said.

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