ChinadismissedsteeldumpingaccusationfromCanadaandcalledonglobalcooperationtotackletheglobalissueofsteelovercapacity.CanadianPrimeMinisterJustinTrudeauonMondayac
Deepening fundamental reforms of China's state-owned enterprises (SOEs) is key to cutting industrial overcapacity, according to experts.
China will provide full support for the coal and steel sectors, which suffer serious overcapacity, to help them out of their current difficulties, according to an official statement issued Thursday.
Long road lies ahead for China to tackle the overcapacity and adjust its industrial structure, according to a conference held by the State Council Information Office on Thursday.
China's latest figures on industrial activities indicated that the world's second largest economy faced worsening overcapacity despite a slew of measures and repeated warnings from the leadership.
China is the world's biggest producer of steel, aluminum and cement. Overcapacity in a number of sectors has dragged down prices and profit margins for some enterprises amid China's economic slowdown.
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