China’s Congress Pledges to Fix Overproduction of Steel and Fuel

China pledged to address the overproduction crippling its steel and oil sectors, two of the country’s worst-performing and most-polluting industries, as the government looks to reconfigure its economy and meet robust growth targets.

The promise of cuts to steel output was delivered by the National Development and Reform Commission at China’s annual policy meeting in Beijing on Wednesday. The economic planning agency also said it wants refiners to produce less fuel and more petrochemical products, as the electrification of transport rapidly shifts the country’s energy use.