Capacity removal plan released for steel and coal industry in 2017
2017-05-16 17:41:17 [Print]
The National Development and Reform Commission and other departments released the 2017 capacity removal plan for steel and coal industry. The target for capacity removal will be about 50 million tons for crude steel and more than 150 million tons for coal throughout China in 2017.
As for capacity removal in iron and steel industry, the plan requires the “unqualified steel” capacity to be eliminated before June 30, 2017; to enhance effective supply in this industry in order to avoid sharply fluctuations in prices; to remove around 50 million tons of crude steel capacity in 2017.
In terms of capacity removal in coal industry, the target will be above 150 million tons in 2017 to achieve general balance in total coal output, regional distribution, product varieties and demand.
The plan stressed to put the disposition of unprofitable and debt-laden enterprises in the first place and takes methods based on orientation of marketization and legislation. During the process of capacity removal, related problems should be dealt with appropriately, such as mergers and acquisitions, resettlement of workers, handling of debt assets, industrial upgrading, etc. so as to promote sustained, stable and healthy development of the industry.
As for capacity removal in iron and steel industry, the plan requires the “unqualified steel” capacity to be eliminated before June 30, 2017; to enhance effective supply in this industry in order to avoid sharply fluctuations in prices; to remove around 50 million tons of crude steel capacity in 2017.
In terms of capacity removal in coal industry, the target will be above 150 million tons in 2017 to achieve general balance in total coal output, regional distribution, product varieties and demand.
The plan stressed to put the disposition of unprofitable and debt-laden enterprises in the first place and takes methods based on orientation of marketization and legislation. During the process of capacity removal, related problems should be dealt with appropriately, such as mergers and acquisitions, resettlement of workers, handling of debt assets, industrial upgrading, etc. so as to promote sustained, stable and healthy development of the industry.
