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China unveils trial rules to cut overcapacity
[BEIJING] China's powerful national planning body on Tuesday unveiled a trial "negative list"programme to cut capacity in a range of sectors from coal to beer.
The central government has identified overcapacity and the closure of debt-ridden "zombie" firms as one of its main policy priorities for 2016.
The National Development and Reform Commission's trial programme will cover the cities of Shanghai and Tianjin as well as the provinces of Guangdong and Fujian, and lists on its 135 pages the sectors that will be subject to restrictions.
It provided as one of its examples plants that produce fewer than 18,000 bottles of beer an hour.