China Exceeds the Targets to Eliminate Outdated Capacity

During the Eleventh Five-Year Plan period that will end this year, China is expected to eliminate 111.72 million tons of pig iron, 66.83 million tons of steel and 105.38 million tons of coke, surpassing its original targets by 11.7 percent, 21.5 percent and 31.7 percent respectively.

However, those figures just account for approximately half of the total output classified as inefficient by the central government, which means eliminating outmoded capacity will remain one of the most important policies for the country to adopt to complete its goal of the economic transformation in the next five years.