The State Development and Reform Commission (SDRC) called for a cool-down of overheated industrial sectors such as steel, aluminum, cement and automobile manufacturing.
The commission said each of these industries is suffering from overproduction as individual producers ramp up output in the face of stiff competition and as the economy continues to grow rapidly.
For example, SDRC data showed that production and investment in the steel and iron sectors grew by 19.4 percent and 120 percent respectively during the first nine months of this year. The commission recommended that the investment and financing systems be reformed to head off redundant investment.
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