[Ferro-alloys.com]Minister of MIIT (the Ministry of Industry and Information Technology of China) Miao Wei disclosed recently that MIIT would announce the second batch of enterprises with backward production capacity within this year. They would urge dismantling of backward equipment on time and make sure capacity reduction task of 2013 could be completed.
Minister Miao said backward capacity elimination involved workers arrangement, asset loss, debt disposal and other problems. It would affect financial income of local government and employment in the short term. Meanwhile, precious resource, energy, land, market space and environmental capacity would be vacated for advanced capacity.
In late June, MIIT listed the first enterprises with backward capacity to be eliminated in 2013.Nineteen industries including steel and copper smelting were related. MIIT promised to eliminate this capacity before the end of this