Overcapacity

Beijing warns local officials against allowing expansion in industries with overcapacity

Steelmaking is one of the industries plagued by overcapacity. Photo: Reuters

Chinese leaders have ordered local officials to stop expanding industries such as steel and cement in which supply outstrips demand, a cabinet statement said on Tuesday, in a sign previous orders to cut overcapacity were ignored.

Tuesday, 5 November, 2013, 2:56pm