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Beijing holds meeting with steel executives to discuss overcapacity

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Top Chinese government officials and steel executives met in Beijing on Monday to discuss the challenges in cutting overcapacity in the steel sector, according to a statement posted on the website of China's state planner on Tuesday.

[BEIJING] Top Chinese government officials and steel executives met in Beijing on Monday to discuss the challenges in cutting overcapacity in the steel sector, according to a statement posted on the website of China's state planner on Tuesday.

The government will continue to implement measures to cut overcapacity, including tackling zombie firms and prohibiting low-grade steel production, it said.

Government agencies present at the meeting included the Natonal Development and Reform Commission (NDRC), the State-owned Assets Supervision and Administration Commission (SASAC) and the banking and securities regulators.

REUTERS

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