MIIT: China makes progress in capacity removal in electrolytic aluminum and other industries
2017-07-26 15:11:28 [Print]
On July 25th, the Information Office of the State Council held a news conference about the development of industry and communication industry in the first half of 2017. Zhang Feng, the news spokesman from the Ministry of Industry and Information Technology (MIIT), introduced that China steadily stimulated the supply-front reform in industry. In particular, China sped up the removal of excessive capacity and finished 84.8% of annual de-capacity tasks in the first 5 months and completely cracked down substandard steel in late June with great progress in capacity removal in electrolytic aluminum, cement, sheet glass and other industries. Meanwhile, China continued to carry out measures to reduce production costs and supervise all regions to cancel over 200 varieties of cash deposit projects related with enterprises with over RMB300 millions of cash deposit being returned. In addition, related enterprises made obvious effects in de-leverage and the debt to assets ratio of enterprises above designated scales was 56.1% in late May, down by 0.7 percentage points YOY.
Aluminum Ingot 99.7%min In warehouse Wuxi
Unit:RMB/mt
China primary aluminum producers' operating rate statistics by province by month
Unit: %
