BEIJING Jan 12 China wants its major
state-owned enterprises to eliminate almost 6 million tonnes of
steel production and 24.7 million tonnes of coal capacity this
year, official media reported on Thursday, citing a government
China, the world's top producer of both coal and steel, has
embarked on a major drive to cut inefficient surplus capacity.
It cut 45 million tonnes of steel capacity in 2016 and was
aiming to reduce 250 million tonnes of coal capacity.
The State-owned Assets Supervision and Administration
Commission, which supervises government-owned firms, also wants
to shutter 300 so-called 'zombie' enterprises this year, the
Securities Times said.
The goals were outlined at a meeting of central
government-owned enterprises, it said.
(Reporting by Dominique Patton. Editing by Jane Merriman)