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China Launches Probe into Steel Capacity
Release time：Nov 21, 2019 From：admin
China has started investigating production capacity at its steel mills amid increasing worries about the rapid growth in output this year, according to a notice circulated online. The notice jointly issued by the National Development and Reform Commission, Ministry of Industry and Information Technology and the National Bureau of Statistics urges local governments and the State-owned Assets Supervision and Administration Commission to verify the steel firms’ capacity, production and fixed-asset investments.
The notice said that local governments will check the mills under their administration while SASAC will look into national steel firms.
China has eliminated more than 150 million tonnes of steel capacity over the past three years as part of its environmental crackdown and supply-side reforms. However, the amount of steel churned out by the world’s top steelmaker in the first ten months of 2019 rose 7.4% from the year earlier period
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