China Expects 1.8 Million Coal, Steel Layoffs on Capacity Cuts

  • Plan underlines nation's determination to chop overcapacity
  • Cutting coal capacity 500 million tons; steel by 150 million

China will lay off about 1.8 million steel and coal workers as President Xi Jinping drives efforts to cut the country’s industrial overcapacity and reform it’s bloated state-run enterprises.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.