March 28, 2017 / 4:20 AM / 4 months ago

Beijing holds meeting with steel execs to discuss overcapacity

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FILE PHOTO: A labourer works at a cold-rolling mill on the outskirts of Wuhan, capital of central China's Hubei province August 22, 2006.Alfred Cheng Jin/File Photo

BEIJING (Reuters) - Top Chinese government officials and steel executives met in Beijing on Monday to discuss the challenges in cutting overcapacity in the steel sector, according to a statement posted on the website of China's state planner on Tuesday.

The government will continue to implement measures to cut overcapacity, including tackling zombie firms and prohibiting low-grade steel production, it said.

Government agencies present at the meeting included the National Development and Reform Commission (NDRC), the State-owned Assets Supervision and Administration Commission (SASAC) and the banking and securities regulators.

Reporting by Beijing Monitoring Desk; Editing by Richard Pullin

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