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art of the supply-side reform is cutt〓ing excess capacity in sectors inclb


uding steel and coal, and this will be fur9

in fisv

Monda〓y. Tu

〓ushed mainly "with a market-oriented and law-abiding approach," he said. According〓 to the premier, governments and enterprises will take measures to reemploy steel w〓orkers and coal miners made redundant. "Overcapacity is a global challenge and Chi〓na stands ready to be a responsible country with all these proactive measures," he 〓said. The government will reform on its own services to cut red tapeZ

he government wio
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and regulate 〓emerging sectors or business models, Li said. He also pr1


omised that China will mak〓e adjustments X


e to focus 9

cal, financial and investment areas to guide support towards th〓e real economy, deepen reforms in state-owned enterprises and give private firms mo〓re access to the market. BEIJING, March 5 (Xinhua) -- Numerical targets to re〓duce coal and steel production capacity have, for t〓he first time, been set in the annual Chinese gover〓nment work report. China will reduce steel product〓ion capacity this yea8

especially on suz

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r by around 50 million metric 〓tons and shut down at least 150 million y


metric tons〓 of coal production facilitiet


structural G

mier Li Keqiang 〓said Sunday in a government work report to the fift〓h session of the 12th National People's Congress. 〓Last year's government work report promised capacit〓y-cutting in the two industries, but did not specif〓y targets. In 2016, the country reduced coal capac〓ity by 290 million metric tons and steel capacity b〓y 65 million metric tons for steel, said the premie〓r. Continued capacityN

refo〓rm by reduc
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