China moves to address overcapacity in emerging sectors like wind power 2009-08-26 18:54:44   Print

    BEIJING, Aug. 26 (Xinhua) -- China's State Council, the Cabinet, warned Wednesday of overcapacity in emerging sectors such as wind power, saying the country would move to "guide" development troubled by overcapacity and redundant projects. 

    Overcapacity has persisted in the steel and cement sectors, while redundant projects have surfaced in the emerging sectors of wind power and polysilicon, said a statement issued after an executive meeting of the State Council, presided over by Premier Wen Jiabao.

    "Overcapacity and redundant projects remain prominent because of slow progress in industrial restructuring in some of these sectors," the statement said.

    "Guidance" would be particularly enhanced on the development of steel, cement, plate glass, coal chemical, poly silicon, and wind power sectors, it said.

    The guidance would include strict controls on market access, reinforced environmental supervision, and tougher controls over land use.

    Banks were ordered to lend money for these sectors in strict accordance with present industrial policies.

    Relevant government agencies would also strengthen monitoring over industrial capacity in these sectors, and jointly release information on topics such as the current scale of operations, public demand, and government industrial policies, said the statement. 

China stops expansion projects in steel industry for three years

Li Yizhong, Minister of China's Industry and Information Technology attends a press conference in Beijing, Aug. 13, 2009.(Xinhua/Long Tao)
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    BEIJING, Aug. 13 (Xinhua) -- China's Ministry of Industry and Information Technology (MIIT) Thursday announced a three-year moratorium on approvals of new expansion-related proposals in the iron and steel industry, as the government pledges to eliminate outdated capacity.

    MIIT Minister Li Yizhong said overcapacity in the steel industry was "the most evident" of all the industrial sectors, with this year's estimated total output capacity at 660 million tonnes, compared with estimated demand at 470 million tonnes. Full story

China stresses economic restructuring in promoting growth

    BEIJING, Aug. 25 (Xinhua) -- China needs to stress economic restructuring while aiming at higher economic growth, according to a report submitted Tuesday to China's law makers.

    The report was delivered by Zhang Ping, Minister of the National Development and Reform Commission, the top economic planning agency, to the 10th session of the Standing Committee of the 11th National People's Congress (NPC), the top legislature. Full story

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