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Hebei urges cement and steel firms to invest in plants abroad

Add Time:2015-03-12 03:09:00 Clicks:
China Daily reported that Hebei will encourage steel, cement and other heavy industry companies to invest in production capacity abroad and in other part of the country in response to the huge pressure to reduce output in the province.

Mr Jiang Deguo, deputy governor of Hebei said that “Many plants in Hebei are operating at reduced capacity because of the need to cut air pollution, and factories elsewhere could make up the shortfall. However, the production capacity that is transferred should be of good quality, and the initiative should not simply move pollution elsewhere.”

Mr Jiang said that "We will pursue cooperation in technology and industrial development with other countries. The provincial government will implement preferential policies to encourage companies to invest in other countries."

Mr Jiang said that "We have found a new and promising way to optimize industry and support the economy. Hebei's heavy industries are a major economic pillar in North China and the province is the country's largest iron and steel production area, accounting for around 25% of total output since 2013. The production of glass in Hebei accounted for 17% of the national total and 5% of cement production takes place in the province.

Premier Mr Li Keqiang supported the transfer of production capacity abroad and to western parts of China when he met the Hebei NPC deputies on Saturday and said that such a move will promote industrial development, increase employment in the countries involved and optimize Hebei's industrial structure, a win win result. However, it should not move pollution to the regions.

Source – China Daily
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