China’s central bank releases its priorities for 2016: steel, coal capacity to be cut

BEIJING – China’s central bank, the People's Bank of China (PBOC), has unveiled its priority tasks for 2016. The State newsagency, Xinhua, quotes the PBOC as saying its monetary policy will help slash overcapacity, cut stockpiles, reduce leverage, lower costs of doing business and fix shortcomings, with a focus on reducing steel and coal overcapacity.