Steel pro­duc­tion cut tar­get set

China Daily (USA) - - POLICY REVIEW -

The Min­istry of In­dus­try and In­for­ma­tion Tech­nol­ogy put for­ward a plan on Novem­ber 14 on steel in­dus­try re­struc­tur­ing and up­grad­ing dur­ing the 2016-2020 pe­riod. By 2020, the ex­ces­sive pro­duc­tion ca­pac­ity prob­lem of the in­dus­try should be ef­fec­tively eased, ac­cord­ing to the plan. By that year, the pro­duc­tion ca­pac­ity of crude steel should by re­duced by 100 to 150 mil­lion tons and ma­jor head­way should be made in in­no­va­tion, qual­ity im­prove­ment, and the sup­ply-side struc­tural re­form in the sec­tor, the plan says.

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