China to ban new projects strengthen market in overcapacity plan
Margins in the targeted sectors, which also include shipbuilding, aluminium and glassmaking, have been affected for years by a capacity glut that has left many firms suffering heavy losses and reliant on government subsidy. The long-awaited plan, published by China’s cabinet, said it would focus on “establishing and perfecting” market mechanisms, marking a change of approach after years spent trying to strong-arm the sectors into submission.
Source: Reuters
Margins in the targeted sectors, which also include shipbuilding, aluminium and glassmaking, have been affected for years by a capacity glut that has left many firms suffering heavy losses and reliant on government subsidy. The long-awaited plan, published by China’s cabinet, said it would focus on “establishing and perfecting” market mechanisms, marking a change of approach after years spent trying to strong-arm the sectors into submission.
Source: Reuters
