NDRC plans industrial data warning system
Updated: 2014-01-22 11:57
By Zhao Yinan (chinadaily.com.cn)
China is mulling an early warning system for industrial information to report possible overcapacity, in a bid to tackle the aftermath of overheated economy.
The top economic planning body, the National Development and Reform Commission, said on Wednesday that it is building an early warning system, which will collect industrial information and issue warnings of potential overcapacity based on analysis of the data.
Chen Bin, an official from the commission, said the information platform would also exchange data with the Ministry of Land and Resources, the Ministry of Environmental Protection and the China Banking Regulatory Commission, to improve the accuracy of data analysis.
Overcapacity is listed as one of the major obstacles for China to maintain sustainable growth in 2014. Chen said he is confident of partially solving the problem in 2014 as "many local governments have realized its downside and are working on it with us".