China warns of excessive industrial investment
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China has sounded a warning about excessive investment in the steel, building materials, nonferrous metals, and automobile sectors, and vowed to curb the wasteful duplication in construction using market, legal and technological measures.
A leading official with the State Development and Reform Commission said that duplication in construction in those sectors had accelerated with outstanding structural problems since early last year, the official People's Daily newspaper reported on Tuesday.
The official noted that the new round of excessive investment, which was triggered partly by a growing market demand, was "worth attention from various sectors".
english.eastday.com
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China tries to cool industrial investment
BEIJING - China is warning about excessive investment in the steel, building materials, nonferrous metals, and automobile sectors, and vowed to curb the wasteful duplication in construction using market, legal and technological measures.
A leading official with the State Development and Reform Commission said duplication in construction in those sectors had accelerated with outstanding structural problems since early last year.
The official noted that the new round of excessive investment, which was triggered partly by a growing market demand, was "worth attention from various sectors". Ma Gai, minister in charge of the commission, has called for resolute measures to curb the excessive investment and duplication in construction.
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