BEIJING, June 26 (Reuters) – China is set to release new plans soon to slim down bloated industries from steel to shipbuilding, but applying measures on the ground will be tough after years of lax oversight during a stimulus-fueled rush to expand in Asia’s biggest economy.
The new rules, which will also target aluminium, cement and glassmaking, could be announced within weeks. Despite fairly resilient demand, all these sectors have been hit by overcapacity and failure to rein in production gluts could put more pressure on already weak markets.
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David Stanway, Reuters via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/ohv5Q2uWxb4/
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