This morning, exclusive news from Caixin hit the China market, saying Weiqiao group got exemption in the winter heating season cut.
It is said Weiqiao’s winter heating season cut capacity overlapped with the previous illegal capacity cuts, so Weiqiao no longer needs to cut capacity this winter.
The news reported that an officer in Binzhou Commission of Economy and Information Technology (EIT) said “Notice on the issuance of Binzhou 2017-2018 industrial enterprises staggering production plan” is approved by the local EIT and the environmental protection department in accordance with national policy. He said when they handle the environmental protection work, they also need to ensure social stability and economic development. To limit production regardless of social stability and financial risk, as in “one size fits all”, is not desirable.
In fact, this news has a mistake Weiqiao actually cut around 240kt capacity in first half of November.
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