Central Gov, local and state-owned enterprises Cooperation are working together to reduce the production.

 

Previously, the State Council put the result of reducing production as a central goal of the implementation of major decisions and plans of supervision and inspection of important content, in June the country also related provinces (regions and municipalities) and Xinjiang Production and Construction Corps have submitted to the embodiments, and all signed letters of responsibility goals . For example, Yunnan proposed, and strive to the end of 2018 crude steel production can be controlled within 25 million tons of coal production can be controlled in less than 70 million tons. Hunan proposed 2016 - The 2020 plan Yajian steel production capacity of 500,000 tons (completed in 2016); Sichuan Province put forward, 2017 will Yajian crude steel production capacity of 4.2 million tons.

In early February, the State Council on the steel industry and coal industry to resolve the overcapacity opinions put forward a turnaround development, integrated use of guide local mergers and acquisitions, debt restructuring and bankruptcy, etc., to expedite the disposal of "zombie companies" "achieve market clearing.

In addition, in order to promote corporate mergers and acquisitions and reduction replacement approaches, the authorities issued opinions play advanced capacity to promote transformation and upgrading of the coal industry. SASAC established coal asset management platform, optimize the allocation of resources in coal central rate. CBRC actively promote large-scale debt and creditor banks have three or more clients formation of a creditor committee to study the financial support and debt treatment measures.

SOE restructuring and reforms to boost productivity, and achieved certain results. According to statistics, as of the end of May, crude steel production in the central enterprises, glass production, aluminum production fell 5.9%, 17% and 24.1%, respectively. Baosteel and Wuhan Iron and Steel is planning a strategic restructuring, through the restructuring accelerate the elimination of excess capacity.

To implement the steel and coal industry to production policies, July 13, the Ministry of Finance issued "Enterprise Bankruptcy Liquidation relevant accounting rules (draft)" for public comment.

Centrarse en la reducción de la producción.