Feb 03, 2016 05:07 PM

NDRC Said to Have Plan to Cut Steelmaking Capacity over Five Years

(Beijing) – China's top economic planner will unveil a policy in February aimed at cutting excess production capacity of crude steel by 100 to 150 million tons over the next five years, people with knowledge of the matter say.

The goal will be announced shortly before or after Spring Festival, the holiday also known as the Chinese New Year, which this year lasts from February 7 to 13, the sources said.

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