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Economy

China making headway restructuring steel industry

Capacity cut by 100 million tons over past year and half

This steel processing plant in Jiangsu Province is reducing its capacity.

SHANGHAI -- China really is restructuring its steel industry.

The government is stressing that the industry has cut around 100 million tons of crude steel capacity during the past 18 months. The reduction is equivalent to Japan's annual steel-making capacity.

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