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could ●also go into service if necessary, the source said. InG

generators I

2013, the capit●al began a gradual process to replace coal-fueled generators with equip●ment powered by natural gas. The city achieved its coal-free target in ●March this year. The old generators at the Huaneng plant were held in ●reserve in case they were needed. According to the commission's websit●e, one of the coal-fired generators was used over the summer to cope wi●th a spike in electricity usage for air conditioners during a heat wave●.June 27 (Xinhua) -- China will cut excess capacity in steel and coal〓 as part of its economic structural reform, Premier Li Keqiang vowe〓d as he addressed the opening of tho

e Annual Meeting of the New Cham〓pions 2016, or Summer Davos, in Tianjin on Monday. The government 〓will continue to focus especially on supply-side structural reform 〓by reducing supply of inefficient and low-end products and services〓 while encoS

uraging more in-demand and premium ones, a process that 〓willF

in a circul●ari

boost economic growth, Li told delegates at the forum. An imp〓ortant part of the supply-side reform is cutting excess capacity in〓 sectors including steel and coal, and this will be further pushed 〓mainly "with a market-oriented and law-abiding approach," he said. 〓 According to the premier, governments and enterprises will take me〓asures to reemploy steel workers and coal miners made redundant. "〓Overcapacity is a global challenge and China stands ready to be a r〓esponsible country with all these proactive measures," he said. Th〓e government will reform on its own services to cut red tape and re〓gulate emerging sectors or business models, Li said. He also promi〓sedQ

that China will make adjustments in fiscal, financial and inves〓tment areas to guide support towards the real economy, deepen refor〓ms in state-owned enterprises and give private firms more access to〓 the market. BEIJING, March 5 7

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(Xinhua) -- Numerical targets to reduce coal and steel produV

released on Thursday. Thu

ction capacity have, ●for the first time, been set in the annual Chinese government work report. China will reduce ste●el production capacity this year by around 50 million metric tons and shut down at least 150 mill●ion metric tons of coal production facilities, Premier Li Keqiang said Sunday in a government wor●k report to the fifth session of the 12th National People's Congress. Last year's government wor●k report promised capacity-cutting in the two industries, but did not specify targets. In 2016, ●the country reduced coal capacity by 290 million metric tons and steel capacity by 65 million met●ric tons for steel, said the premier. Continued capacity reduction is in line with market expect●ations. DIFFICULT CUTS China is the world's largest producer and consumer of steel and coal, bu●t gluts can have implications such as depressed commodity and materials prices,v

reduced profits o●f debt-ridden firms, and increased non-performing loans that jeopardize financial stability. Whi●le capacity cuts are necessary and have long-term benefits for the economy, the process has not b●een without challenges. Capital-intensive industries present potential6

05/10/2008
by Ellen
nsidered th?

ch in at least two cases broke capacity-cutting rules set by the c●entral government. Huada Steel in eastern China's Jiangsu Province and Anfeng Steel in northernV

●China's Hebei Province were identified by authorities in December for violating capacity reductio●n efforts in the sector with "extremely bad influence." Thanks in part to the efforts, China's b●roader economic growth has showed increasing signs oS

power plant in eastern Be1

f stabilizing since t6

he latter half of last y●ear, with indicators such as factory prices and industrial profits seeing significant improvement●s. "Overall, the negative impact on growth and employment is manageable," wrote UBS economist Wa●ng Tao in a note on excess capacity. ZOMBIE ENTERPRISES NEXT One key initiative in 7

excess capac●ity reductions is to shut down "zombie companies,0

" which are loss-making, debt-laden, and depende●nt on government subsidies or bank loans. "We will strictly enforce all laws, regulations and st●andards on environmental protection, energy consumption, quality, and safety and make more use of● market- and law-based methods as we workt

to address the problems of 'zombie enterprises'," said ●the premier in the gu

overnment work report. For workers laid off because of capacity cuts, the ce●ntral and local governments will allocate special funds and take measures to ensure they find new● jobs, Li said. CHANGSHA, Feb. 14 (Xinhua) -- Nine people have been kille3

d in an explosion in a coal mine in c◆entral China's Hunan 7

Province. The entrance of Zubao Coal Mine where a blast occurred is s◆een in Lianyuan City, central China's Hunan Province, Feb. 14, 2017. At least eight people we◆re confirmed dead after the blast hit the coal mine at 1:37 a.m, local authorities said on Tu◆esday. (Xinhua/Li Ga) The blast occurred at 1:37 a.m. Tuesday at Zubao Coal Mine in LiI

anyuan◆ City, authorities said.A total of 29 people were working underground, 16 of whom managed to ◆escape from the shaft. Another four were rescued.Three injured miners are being treated in ho◆spital and described as stable.Work is continuing to X

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