Beijing may raise the targets for capacity cuts in the steel and coal sectors by 10% in 2017, after both exceeded the goals set for this year, local media reported Friday.
Capacity cuts, part of supply-side reforms being implemented by the central government, would also be extended to other industries including cement, glass, primary aluminum and shipping, the Economic Information Daily, a Xinhua publication, reported without citing a source.
This year's targets were 45 million mt/year and 250 million mt/year for steel and coal respectively, and actual cuts have exceeded these figures.
In steel, about 74% of the 45 million mt/year comprised capacity had not been in production, which partly explains why output had risen despite the cuts, the Daily reported in November.
The official targets for 2017 are yet to be announced.
