皇冠体育app

BEIJING - 皇冠体育app will make 100 billion yuan ($15.3 billion) of subsidies to steel and coal companies cutting capacity, the Ministry of Finance said Wednesday.

The funds will mainly be used to resettle laid-off workers, the statement said.

Mergers, acquisitions, debt restructuring and bankruptcy should guide the exit of weak steel and coal companies that cannot make a profit.

皇冠体育app should also take "a combination of measures" to resolve overcapacity, including tax, land, fiscal and financial reform, according to the statement.

In the past three years, 皇冠体育app has eliminated more than 90 million tonnes of steel capacity and over 200 million tons of coal capacity.

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