China to cut back industrial expansion
This is a discussion on China to cut back industrial expansion within the China News forum, part of the Doing Business in China category; China unveils details of plans to curb overcapacity in industrial production that has been made worse by the country's vast ...
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Sep 30th, 2009, 03:36 PM
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Re: China to cut back industrial expansion
China has issued a stark warning about the risk from rising overcapacity in the economy, saying it could hamper recovery and lead to a surge in non-performing bank loans.
The State Council, the country’s cabinet, issued a new plan to combat overcapacity in seven industries, barring new aluminium smelters for three years and criticising “blind expansion” in parts of the steel and cement industries. As well as barring investments in new aluminium production for three years, the State Council said it wanted to close more small plants. The statement said that the country’s steel capacity last year was 30 per cent ahead of domestic demand. More... China to cut back industrial expansion |
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