14:13 GMT +320 September 2017
    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
    Asia & Pacific
    Get short URL

    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.


    Employer of Chinese Man Who Fell Into Vat Allegedly Wants Him Euthanized
    Rise of the Machines: Chinese TV Employs AI as Weatherman
    employment, coal, China
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment