Xu Shaoshi, chairman of China’s National Development and Reform Commission (NDRC), has stated at the “Summer Davos” forum held on June 26-28 in Tianjin that China plans to cut coal capacity and steel capacity by 280 million mt and 45 million mt respectively by the end of 2016.
Accordingly, the capacity cuts will involve relocating 700,000 workers in the coal sector and 180,000 workers in the steel industry. The NDRC official said they were confident the targets in question would be achieved, adding that implementation had already begun in cooperation with more than 30 provinces and autonomous regions in China and with certain state-owned enterprises.
Early in February this year, China announced its decision to cut excess crude steel output capacity by 100-150 million mt and to eliminate 500 million mt of coal production capacity during the 13th Five-Year Plan period (2016-20).