Steam locomotives carrying coal at Sandaoling coal mine area in Hami, northwest China's Xinjiang Uygur Autonomous Region earlier this year. More than 30 steam locomotives are still running in the area. Photo: Xinhua

HSBC Asset Management favours Chinese commodity stocks, based on strong government reforms

Coal overcapacity slashed 15pc in the past two years, while that in iron and steel has been cut 10-15pc after successful government-led supply side reforms

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Steam locomotives carrying coal at Sandaoling coal mine area in Hami, northwest China's Xinjiang Uygur Autonomous Region earlier this year. More than 30 steam locomotives are still running in the area. Photo: Xinhua
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