It's Happening: China Plans For 500,000 Unemployed Steelworkers

This is a large migration of 500,000 people.

It is not the spring, but the process is difficult, the wide geographic scope of China's economic future far-reaching effects, no one dared to underestimate.

Chi Jingdong Chinese iron and steel enterprises with the current per capita productivity per ton, roughly calculate this figure. Vice president of the China Iron and Steel Association said, according to the target recompression crude steel production capacity of 100 million to 150 million tons in the January 22, 2016 the State Council executive meeting of China's steel production per capita steel, 300 tons of steel round to capacity means that there will be about 500,000 steel workers facing adjustment or a new choice.

This guidance 500,000 migratory programmatic document entitled "Guidance on the steel industry turnaround", has received State Council approval, or will be officially issued after the Spring Festival. At the same time, eight specific policy documents and supporting documents related to, or is about to complete the drafting of the relevant departments in charge of these policies are related to financial support, the Banking, environmental protection, safety supervision, land and so on.
Difficulties do not end with 500,000 resettled workers. There's also bad debts to settle.
There are bad debt problems. So far, the outside world can not be estimated liabilities dependent on the size of 100 -150 million tons of steel production capacity, as well as partial risk of possible hidden risk. An industry source said, according to data, 1 billion tons of steel production capacity has 3 trillion debt, you can roughly estimate 100 million ~ 150 million tons of production capacity should have at least 300 billion to 450 billion in debt behind it.
EO: 这一次从钢铁开始

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