China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security ministry says.
Yin Weimin, minister of human resources and social security, said capacity cuts would lead to layoffs in 2016, but added he was confident of keeping employment stable in 2016 despite downward pressure on the economy.
No time frame was given for the 1.8 million figure cited.
China aims to remove about 500 million tonnes of coal production capacity within the next three to five years and halt approvals of all new projects.
