CHINA’S biggest steelmaking province Hebei plans to slash 31.86 million tons of steel and ironmaking capacity for this year, the Xinhua news agency quoted a provincial official as saying 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 tons by 2017 and by 49.13 million tons by 2020. Xinhua quoted Hebei provincial governor Zhang Qingwei as saying in a government work paper that Hebei is aiming to eliminate 15.62 million tons of steel capacity, 16.24 million tons of ironmaking capacity by the end of this year. Hebei had cut 14.62 million tons of steel capacity by the end of October, achieving 2016’s target of 14.22 million tons 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 tons of coal capacity, 1.1 million tons 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 tons of steel capacity in 2017, the local government said Thursday, part of its efforts to “upgrade” its highly-polluting heavy industrial economy. (SD-Agencies) |