Hebei to cut 31.86 million tonnes of steel and iron capacity in 2017 - Xinhua | Reuters

SHANGHAI China's biggest steelmaking province Hebei plans to slash 31.86 million tonnes of steel and ironmaking capacity for this year, the official Xinhua news agency quoted a provincial official as saying on Sunday.Hebei, a province in the north of the country near the capital Beijing, accounts for nearly a quarter of China's total steel output and has pledged to cut steel capacity by 31.17 million tonnes by 2017 and by 49.13 million tonnes by 2020.Xinhua reported Hebei provincial governor Zhang Qingwei as saying in a government work paper that Hebei is aiming to eliminate 15.62 million tonnes of steel capacity, 16.24 million tonnes of ironmaking capacity by the end of this year.Hebei had cut 14.62 million tonnes of steel capacity by the end of October, achieving 2016's target of 14.22 million tonnes ahead of schedule. Zhang also said four 'zombie firms' in Heibei would be shut down this year. He did not specify which firms.'(The) process of reducing all ironmaking and steel production capacity in cities of Langfang, Baoding and Zhangjiakou will be accelerated this year,' Zhang was quoted as saying.

Reuters January 09, 2017 00:15:05 IST
Hebei to cut 31.86 million tonnes of steel and iron capacity in 2017 - Xinhua
| Reuters

Hebei to cut 3186 million tonnes of steel and iron capacity in 2017  Xinhua
 Reuters

SHANGHAI China's biggest steelmaking province Hebei plans to slash 31.86 million tonnes of steel and ironmaking capacity for this year, the official Xinhua news agency quoted a provincial official as saying on Sunday.Hebei, a province in the north of the country near the capital Beijing, accounts for nearly a quarter of China's total steel output and has pledged to cut steel capacity by 31.17 million tonnes by 2017 and by 49.13 million tonnes by 2020.Xinhua reported Hebei provincial governor Zhang Qingwei as saying in a government work paper that Hebei is aiming to eliminate 15.62 million tonnes of steel capacity, 16.24 million tonnes of ironmaking capacity by the end of this year.Hebei had cut 14.62 million tonnes of steel capacity by the end of October, achieving 2016's target of 14.22 million tonnes ahead of schedule.

Zhang also said four "zombie firms" in Heibei would be shut down this year. He did not specify which firms."(The) process of reducing all ironmaking and steel production capacity in cities of Langfang, Baoding and Zhangjiakou will be accelerated this year," Zhang was quoted as saying.

In addition, there are plans to cut 7.42 million tonnes of coal capacity, 1.1 million tonnes of cement capacity and an additional 5 million weight cases of flat glass in 2017.

Tangshan, China's biggest steel producing city, which is in Hebei province, aims to close 8.6 million tonnes of steel capacity in 2017, the local government said on Thursday, part of its efforts to "upgrade" its highly-polluting heavy industrial economy. (Reporting by Winni Zhou and Alexandra Harney. Editing by Jane Merriman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

British newspaper distribution hit by Extinction Rebellion blockade
Business

British newspaper distribution hit by Extinction Rebellion blockade

By James Davey LONDON (Reuters) - Distribution of several British newspapers was disrupted on Saturday after climate change activists blockaded printworks used by Rupert Murdoch's News UK, publisher of The Times and The Sun, drawing condemnation from Prime Minister Boris Johnson.

'Keep calm and support Barnier': French minister denies Brexit negotiator sidelined
Business

'Keep calm and support Barnier': French minister denies Brexit negotiator sidelined

PARIS (Reuters) - France denied the European Union's Brexit negotiator Michel Barnier was about to be sidelined by EU leaders in a bid to break the deadlock in trade talks, as reported by British newspaper the Daily Telegraph. Twisting a famous British war slogan, European affairs minister Clement Beaune tweeted on Saturday: "Keep calm and support Michel Barnier".

Mexico rejects ex-President Calderon's bid to register new political party
World

Mexico rejects ex-President Calderon's bid to register new political party

MEXICO CITY (Reuters) - Mexico's National Electoral Institute (INE) has denied former President Felipe Calderon's bid to register his Free Mexico movement as a new political party, saying some of its funding was questionable.