China to launch probe into steel capacity amid surging output
2019-11-19 17:01:28 [Print]
In order to consolidate the result of capacity reduction, recently, the National Development and Reform Commission, Ministry of Industry and Information Technology (MIIT) and the National Bureau of Statistics of China jointly issued Notice for Implementing Capacity and Output Investigation and Verification in Iron and Steel Industry and urges local governments and the State-owned Assets Supervision and Administration Commission (SASAC) to verify the steel firms' capacity, production and fixed-asset investments in recent three years.
Core contents including:
1. Main contents of investigation: all legal person's enterprises should fill in the Investigation Form of Iron and Steel Enterprises' Capacity, Output and Fixed Investments. The investigation will review the. For mills that have changes in capacity since 2016, have a capacity change over 10% output growth and more than 100% utilisation rate in the January-September period of 2019, (the local governments and SASAC) should look into the causes.
2. Report time and receiver: The local governments and SASAC should submit the results of their investigations by November 29, 2019 in quadruplicate to the Joint Office for Overcapacity Dissolution and Development from Hardships in Iron and Steel Industry.
3. Goals: To consolidate and dissolve the result of overcapacity in iron and steel industry and provide evidence for scientific decisions.
Core contents including:
1. Main contents of investigation: all legal person's enterprises should fill in the Investigation Form of Iron and Steel Enterprises' Capacity, Output and Fixed Investments. The investigation will review the. For mills that have changes in capacity since 2016, have a capacity change over 10% output growth and more than 100% utilisation rate in the January-September period of 2019, (the local governments and SASAC) should look into the causes.
2. Report time and receiver: The local governments and SASAC should submit the results of their investigations by November 29, 2019 in quadruplicate to the Joint Office for Overcapacity Dissolution and Development from Hardships in Iron and Steel Industry.
3. Goals: To consolidate and dissolve the result of overcapacity in iron and steel industry and provide evidence for scientific decisions.
