March 5, 2017 / 12:27 AM / 5 months ago

China will cut '17 steel capacity by 50 mln t, coal by more than 150 mln t

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BEIJING, March 5 (Reuters) - China will cut steel capacity by 50 million tonnes and coal output by more than 150 million tonnes this year, its top economic planner said on Sunday in a work report at the opening of the annual meeting of parliament.

The National Development and Reform Commission (NDRC) said it would shut or stop construction of coal-fired power plants with capacity of more than 50 million kilowatts.

The targets come after the world's top coal consumer and steel maker far exceeded goals last year to eliminate 250 million tonnes of coal and 45 million tonnes of steel capacity. (Reporting by Meng Meng and Dominique Patton; Writing by Josephine Mason and Aizhu Chen)

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