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.
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.
China's top economic planner on Monday said it will set up an internal bureau to bolster policy coordination in the private economy. The new department is a specialized
The Defence Intelligence of Ukraine (DIU) has reported that Ukrainian forces attacked the 126th Separate Guards Coastal Defence Brigade of the Russian Black Sea Fleet o
Japan will start releasing more than 1 million tonnes of treated radioactive water into the ocean from the wrecked Fukushima nuclear power plant on August 24, said Prim
About 50,000 protesters gathered in the capital of South Korea on Saturday to demand that the government take steps to prevent what they fear is an impending disaster:
China has discovered over 30.5 billion cubic meters of natural gas reserves in the country's southwest Sichuan Province, its operator, China Petrochemical Corporation (
Former House Speaker Nancy Pelosi, who stepped back from leadership late last year to allow Democrats to shepherd in a “new generation,” announced on Friday she will se
U.S. President Biden arrived in Florida on Saturday with First Lady Jill Biden to survey the damage wrought by Hurricane Idalia. The Bidens toured the town of Live Oak
Yevgeny Prigozhin, head of the Wagner military group, was buried in private on Tuesday in his native city St. Petersburg, Russia.Prigozhin's press service said in a pos
The profit decline posted by China's major industrial firms narrowed in the January-July period, according to National Bureau of Statistics (NBS) data published on Sund
At present, the global service trade is swiftly rising, emerging as the latest engine of worldwide economic growth. In March 2023, the latest "Global Trade Update" rele
On August 27, U.S. Commerce Secretary Gina Raimondo arrived in China for a four-day visit to discuss trade and technology issues and better manage economic differences.
The U.S. policies, including tariffs, which were aimed at decoupling the Chinese and U.S. economies, may ultimately not reduce the U.S.' dependence on supply chains lin
Japan's agriculture minister on Thursday referred to the Fukushima nuke wastewater released into the ocean as "contaminated water" instead of the term "treated water" i
Ukrainian President Volodymyr Zelenskyy on Wednesday met with visiting U.S. Secretary of State Antony Blinken in Kyiv as the senior U.S. official made a surprise visit
A new report shows that more than 76.4 percent of China's population are now internet users, with better digital skills than ever before.The report, released on Monday
Enrique Tarrio, the former national chairman of the far-right group Proud Boys, was sentenced on Tuesday to 22 years in jail for his role in the January 6, 2021, riot o
Canadian Minister of Environment and Climate Change Steven Guilbeault left for Beijing on Saturday to attend a meeting on climate change and biodiversity issues.This wi
Tens of thousands of Israelis protested in cities across the country on Saturday ahead of a key decision by the Supreme Court over legislation passed by the coalition w
The United Nations on Tuesday called for a legally binding ban of nuclear tests and warned of a global catastrophe brought by nuclear weapons.In a message on the Intern