China's overcapacity cut efforts will not generate a drag effect on the country's growth or harm the world economy, an official from the country's top economic planner said on Tuesday.
Premier Li Keqiang urged State-owned enterprises to remove excess production capacity and increase quality during a visit to Hubei province on Monday.
China will make 100 billion yuan (15.3 billion U.S. dollars) of subsidies to steel and coal companies cutting capacity, the Ministry of Finance said Wednesday.
According to statistics of the World Steel Association, world output of crude steel in 2015 was 1. 62 billion tons, and average capacity utilization rate 69.7 percent, 3.7 percentage points lower than the 73.4 percent in 2014, which shows that the overcapacity of the world steel sector is increasing.
The installed generating capacity of new energy, including wind and solar power, in China's far western Xinjiang Uygur Autonomous Region is expected to nearly double to 43 GW by 2020, Xinjiang Grid said Monday.
Chinese Premier Li Keqiang has reiterated the urgency and the government's resolve to cut excess capacity in steel and coal industries, as the country strives to restructure its economy.
With 2016 declared the Year of China-Latin America Cultural Exchange, a solid foundation of public support will definitely give new impetus to the fast-growing cooperation between China and Latin America.
China's steel production capacity is likely to peak in 2016 as capacity is eliminated, gradually outpacing additions, Fitch Ratings has predicted.
Cambodia on Friday conducted a fire-fighting exercise at the complex of the capital's Olympic Stadium with an aim of enhancing the capacity of firefighters.
The Hong Kong Disneyland and the Ocean Park are studying further expansion plans to cope with the increasing number of visitors, according to a report released by the Hong Kong government on Friday.
China on Tuesday said Japan's move to use the so-called "external threat" as an excuse to expand its military capacity raises concern and alertness.
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