Industrial Overcapacity

China Prepares To Lay Off Millions Of State Workers Amid Industrial Overcapacity

By John Ward and Peter Symonds In the lead-up to the National People’s Congress (NPC) starting on Saturday, the Chinese government has announced massive layoffs in state-owned enterprises in coal and steel. Further sackings in other basic industries are being foreshadowed in moves that will result in millions of workers losing their jobs and heightened … Continue reading →