He­bei to fur­ther cut iron and steel out­put

China Daily (Hong Kong) - - BUSINESS -

He­bei, China’s main prov­ince for the pro­duc­tion of iron and steel, has in­creased its iron and steel ca­pac­i­ty­cut­ting tar­gets for next year, the pro­vin­cial gov­ern­ment said. The prov­ince will cut 17.14 mil­lion met­ric tons of iron ca­pac­ity and 19.86 mil­lion tons of steel in 2017, more than the orig­i­nal tar­gets of 16.24 mil­lion tons of iron, and 15.62 mil­lion tons of steel, ac­cord­ing to a de­ci­sion made at the pro­vin­cial eco­nomic work con­fer­ence. Cut­ting over­ca­pac­ity is high on the re­form agenda, as ex­cess ca­pac­ity has weighed on China’s over­all eco­nomic per­for­mance. He­bei, also a ma­jor vic­tim of se­vere air pol­lu­tion, has vowed to cut 60 mil­lion tons of iron and steel ca­pac­ity by the end of 2017.

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