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Efforts to curb new capacities

Chinese authorities have called for efforts in preventing new capacities in cement and flat glass industries as the government remains firm in its drive to cut capacity.On the back of the government’s efforts to cut capacity, the two sectors have seen improved profitability, which prompted certain regions to expand their capacity, said a notice released by the Ministry of Industry and Information Technology and the National Development and Reform Commission.The notice strictly banned any approvals of new construction projects as the oversupply situation in the two industries remained “grim.”For years, a wide range of industries in China, including steel, cement, aluminum, flat glass, and coal, have been running at overcapacity.Related businesses in land supplies as well as environmental approvals and credit support should also be halted, while capacity replacement projects should strictly follow local plans, the notice said.
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