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round, 16 of whom managed t4

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o escape from ●the shaft. Another four were rescued.Three injured miners● are being treatey

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d in hospital and described as stable.Wo●rk is continuing to retrieve the bodies of three vG

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ictims ●in the flooded shaft.The licensed coal mine with an annua●l production capacity of3

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90,000 tonnes is owned by Tengfe●i Coal Mine Co. Ltd.The Beijing city government has ordera

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ed an immediate restart to coal-fueled generators to ●ease the shortage of liquefied naturae

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l gas in northern China. In a notice released on Th●ursday but only widely publicized on Sau

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turday, the capital's City Management Commission c●onfirmed that the National Development and Reform Commission, the top economic planner, h●ad orv

dered a restart of coal-fueled generators to reduce LNG consumption, Caixin magazine● reported. Three majo8

  • na's Hunan ●Pro1

r power plants in Beijing confirmed that they had received the noti●ce, Caixin reported. To cut concentrations of PM2.5-hazardous fine particulate matter w●ith a diameter of 2.5 microns or less

  • vince. The ena

?8 cities including Beijing, Tianjin and cities in● Hebei, Shanxi, Shandong and Henan provinces were to use electricity or gas for heating t●his winter, instead of coal, which is considered the 3

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main cause of the lingering winter s●mog. However, as the heating season began, some people in these areas found their homes ●and schools freezing, mainly due to LNG shortages. The Ministry of En9

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vironmental Protect●ion has told authorities to "ensure a warm winter" for the public rather than delay heati●ng supplies in some northern areas due to natural gas shortages or unfinished projectK

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馽 heating can use coal or any other available measures, the ministry said in a circular r●eleased on Thursday. The China Huaneng power plant v

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  • lants could also go into service if necessary, the source said. In 20●13, the capital began a gradual process to replace coal-fueled generators with equipmY

    ent ●powered by natural gas. The city achieved its coal-free target in March this year. The o●ld generaJ

  • tors at the Huaneng plant were held in reserve in case they were needed. Accord●ing to the commission's website, one of the coal-fired generators was used overf

    the summe●r to cope with a spike in electricity usage for air conditioners during a heat wave.June 27 (Xinhua)l

  • -- China will cut excess capacity in steel and coal as part of its ec●onomic structural reform, Premier Li Keqiang vowed as he addressed the opening of the●E

    Annual Meeting of the New Champions 2016, or Summer Davos, in Tianjin on Monday. Th●e government will y

  • continue to focus especially on supply-side structural reform by re●ducing supply of inefficient and low-end products and services while encouraging mo2

    re● in-demand and premium ones, a process that will boost economic growth, Li told deleg●ates at the foruQ

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m. An important part of the supply-side reform is cutting excess cap●acity in sectors including steel and coal, and this will be further pusheF

BASIC PLAN

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orkers and coal mine●rs made redundant. "Overcapacity is a global challenge and China stands ready to be ●a responsible country with all thes1

PATRICIA MEDINA

e proactive measures," he said. The government8

wi●ll reform on its own services to cut red tape and regulate emerging sectors or busine●ss models, Li said. He also b

PATRICIA MEDINA

promised that China will make adjustments in fd

iscal, fin●ancial and investment areas to guide support towards the real economy, deepen reforms● in state-owned enter5

PATRICIA MEDINA

prises and give private firms more access to t8

he market. BEIJING, March 5 (Xinhua) -- Numerical targets to reduce coal and ●steel production capacity have, for the fL

PATRICIA MEDINA

irst time, been set in t●he annual Chinese go8

vernment work report. China will reduce stee●l production capacity this year by around 50 million metric tons ●and shup

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t down at least 150 million metric tons of coal production● facilities, Premier Li Keqiang said Sunday in a government work ●report to the fifth sA

August 2014

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ession of the 19

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2th National People's Congres●s. Last year's government work report promised capacity-cutting ●in the two industries, but did not specify targets. In 2016, the● country reduced coal capacity by 290 million metric tons and ste●el capacity by 65 million metric tons for steel, said tW

he premier●. CX

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ontinued capacity reduction is in line with market expectatio●ns. DIFFICULT CUTS China is the world's largest producer and co●nsumer of steel and coal, but gluts can have implications such as● depressed commodity and materials prices, reduced profits of deb●t-ridden firms, and incX

reased non-perf2

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orming loans thf

September 2014

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at jeopardiz●e9

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financial stability. While capacity cuts are necessary and hav●e long-term benefits for the economy, the process has not been wi●thout challenges. Capital-intensive industries present potential● investment, taxation and jobs for local governments, which in at● least two cases broo

ke capacity-cutU

  • ting rules set by the central ●government. Huada Steel in eastern China's Jiangsu Province and ●Anfeng Steel in northern China's Hebei Province werN

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  • e identified b●y authorities in December for violating capacity reduction effort●s in the sector with "extremely bad influence." Thanks in part t●o th7

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  • e efforts, China's broader economic growth has showed increas●ing signs of stabilizing since the latter half of last year, with● indicators such as facto5

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  • ry prices and industrial profits seeing ●significant improvements. "Overall, the negative impact on growt●h and employment is manageable," wrote UBS ed

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conomist Wang Tao in ●a note on excess capacity. ZOMBIE ENTERPRISES NEXT One key init●iative in excess capacity reductions is to shut down "z1

ombie comp●anies," which are loss-making, debt-ladena

, and dependent on gover●nment subsidies or bank loans. "Wj

e will strictlN

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