HR ministry forecasts 1.8mn workers to be cut from coal, steel industries

China’s human resources and social security ministry announced on Monday that the country’s coal and steel industries would cut 1.3 million and 500,000 workers, respectively, Bloomberg reported, citing a transcript posted to the ministry website that also claimed the affected workers would be reallocated. The move marks the latest attempt to deal with chronic overcapacity fostered by a booming real estate sector that continues to face serious headwinds nationwide. Meanwhile, The Guardian reported that China’s coal consumption fell 3.7% in 2015 year on year, the second such consecutive fall, according to data from the National Bureau of Statistics. However, no absolute total was provided for consumption.