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China pledges further cuts in excess steel, coal production

Xu Shaoshi, head of the National Development and Reform Commission (NDRC), speaks at a news conference in Beijing, China. (Reuters)

BEIJING: China’s top economic planner has pledged to continue cutting steel and coal production that have been a source of trade friction with many countries.
Xu Shaoshi, chairman of the National Development and Reform Commission, said Tuesday that targets for cuts last year had been reached and that millions of steel and coal workers have been transferred to other jobs.
Xu said other industries such as cement and glass are also “actively” cutting capacity. China's trade partners blame the country for dumping excess steel, coal, cement and glass on world markets.
President-elect Donald Trump has engaged in a war of words with Beijing, accusing China of unfair trade practices and threatening punishing tariffs.
Chinese leaders say they are working to solve excess capacity but acknowledge the impact on state workers.

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