Chi­nese power sub­si­dies to alu­minum smelters banned

China Daily (Hong Kong) - - BUSINESS / DIGEST -

China will ban lo­cal govern­ments from of­fer­ing power sub­si­dies to alu­minum smelters and will im­pose a sur­charge on plants that con­sume the most elec­tric­ity as it seeks to curb over­ca­pac­ity in in­dus­tries from steel to ce­ment. Fac­to­ries us­ing more than 13,800 kilo­watt hours to pro­duce 1 met­ric ton of alu­minum will have to pay a sur­charge of 0.08 yuan ($0.013) a kilo­watt hour start­ing Jan 1, ac­cord­ing to a state­ment posted on the Na­tional De­vel­op­ment and Re­form Com­mis­sion’s web­site on Mon­day. The agency didn’t say when the sub­si­dies will be banned. The mea­sures are de­signed to help cut out­dated ca­pac­ity and en­cour­age

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