Chinese vice premier urged more efforts to curb overcapacity

10:08, February 27, 2010      

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China's Vice Premier Zhang Dejiang urged more efforts to curb overcapacity to optimize the industrial structure and accelerate the transformation of economic development mode on Friday.

Curbing overcapacity, both an urgent and a long-term strategic task, is the best place to start in transforming China's economic development mode and restructuring the economy, said Zhang at a seminar attended by government officials in Beijing.

Zhang said seriously implementing the central government's policies was key to fulfilling the task.

Market mechanism, economic means, laws and regulations, and fiscal support and incentives should be employed to curb industrial overcapacity, he said.

Source: Xinhua
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