China promises to further cut outdated coal and steel capacities

China will continue to cut its aging coal and steel production capacity this year, the country's chief economic planner said Thursday.

The country will push forward supply-side structural reform in the steel sector, accelerate reductions in excess capacity and encourage green and innovative development in the sector, the National Development and Reform Commission (NDRC) said in an online statement.

Coal mines that do not meet the country's safety and environmental standards will need to be cleaned up and inefficient production capacity will be cut in the statement.

The total number of coal mines should be reduced to no more than 5,000, while production by large coal mines should account for about 96 percent of the country's total production, the NDRC said in a separate statement.

China is striving to improve its energy structure to make it greener and more efficient. It is recommended that information technology is used in coal mines to further improve safety and efficiency, the commission said.