China Expects 1.8 Million Coal, Steel Layoffs on Capacity CutsBloomberg News
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.
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