03:09 GMT +3 hours29 August 2016
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Miners walk at a coal mine from the state-owned Longmay Group on the outskirts of Jixi, in Heilongjiang province, China, October 24, 2015

China Lays Off 1.8Mln Workers in Coal Mining, Steel Industry

© REUTERS/ JIXI Picture
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Beijing has announced plans to let go of approximately 1.8 million workers in its coal mining and steel industries in the framework of a program to reduce excess capacities in the industry, the Chinese Minister of Human Resources and Social Security said Monday.

BEIJING (Sputnik) — In January, Chinese media reported that Beijing was expected to spend some $15 billion annually implementing a program to reduce the excess capacity of country's heavy industry.

"At the moment coal mining and steel industry are the first where the excess capacities will be reduced. According to the initial estimates in these industries, 1.3 million of people will be retrenched in the coal industry and 500,000 in the steel industry," Yin Weimin told reporters.

In January, China’s State Council announced that it would reduce the excess capacities in the industry in the framework of structural reforms of country's economy.

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employment, coal, China
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  • OUCH!!! This is going to hurt the treacherous mining PIGS in Australia!!! LOL
  • Baybars
    What a country. This article says the workers will be laid off and in western terms that means they are out of luck. In China the government can reemploy/relocate this 1% of the population to benefit the country and the workers.

    I am not a fan of the tight communist system but neither am I a fan of starving U.S. citizens sleeping under bridges.
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