Chinese Premier Li Keqiang has stated at an executive meeting of China’s State Council that China has achieved its steel capacity reduction target of 45 million mt and its coal capacity reduction target of 250 million mt for the current year ahead of schedule.
To examine capacity reduction, Premier Li has requested the central government and local governments to assign investigation teams to carry out selective inspections of capacity reductions at steel enterprises and coal enterprises in China to make sure they have really eliminated the stated capacities. Any enterprises found guilty of fraud or illegal production in the steel and coal sectors will be held accountable and receive severe punishments, the Chinese premier said.