Tangshan chops steel capacity
Tangshan, a major steel producing city in north China’s Hebei province, has cut 31.9 million metric tons of steel capacity in the past four years, local authorities said on Sunday. Tangshan had a steel capacity of 150 million tons before 2013, but its annual output then stood at about 100 million tons, the municipal government said. According to theHebei provincial government, Tangshan needed to cut 40 million tons of steel capacity in the five years to 2017. So far this year, the city has closed down 8.3 million tons of capacity, meeting its annual target. growth and theme parks are being built in the country faster than anywhere else in the world, with more than 300 projects reportedly funded in recent years. Chinese mainland’s first Disneyland opened this June in the commercial hub of Shanghai at a cost of $5.5 billion. Foodstuff Group Co will see the unlocking of 3.07 billion shares worth nearly 111.9 billion yuan, the biggest group of locked-up shares to hit the market. Taobao, China’s biggest online commerce site.