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Hebei aims to shut last zombie steel mills- The 18th China£¨Guangzhou£©Int¡¯l Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
3/9/2017 sheet metal expo |
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Reuters reported that China''s biggest steelmaking province, Hebei, will close its last "zombie" steel mills by the end of next year.The governor said that marking a small victory in the country''s years-long battle to clean up its air and cut excess capacity.
This year, the province will shut four "zombie" mills, or plants that have stopped production but have not closed down, and another four in 2018, Governor Zhang Qingwei said at a briefing on the sidelines of the country''s annual parliament meeting. He said that "We need to cut down the total number of steel plants, they can''t be everywhere.¡±
The move helps solve a headache that has dogged the country as it has tried to make its bloated steel industry more efficient.
China, the world''s top steelmaker, accounts for half of the world''s output, but its oversupply is four times US output levels.
Measured by tax revenue, Mr Zhang said that "Last year was a turning point for us because it was the first time equipment manufacturing overtook steel to become one of our key industries.¡±
Hebei is home to 104 mills that account for nearly a quarter of China''s total steel output. The province has pledged to cut steel and iron making capacity by 31.17 million tonnes by 2017 and by 49.13 million tonnes by 2020.
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The 18th China£¨Guangzhou£©Int¡¯l
Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
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