14 Tire Companies in Shandong Close Down in De-capacity Campaign

The supply-side reform made positive progress in Shandong province, the de-capacity efforts took effect and capacity utilization increased steadily.

Investigation show that in the third quarter of this year, the capacity utilization of industrial enterprises in Shandong rebounded to 77%.

According to figures released by Shandong Provincial Bureau of Statistics, as of end-Sept., 14 tire producers, 288 chemical companies, 158 cement companies, 85 black metal mills and processing companies, 45 oil refineries, and 42 coal mining and preparation companies were closed down.

As a result, the capacity utilization of industrial enterprises in Shandong grew steadily.

According to a business operation investigation on the province’s 7,119 enterprises, the capacity utilization of province’s industrial enterprises in the third quarter of this year was up 1.0 percentage point from the final quarter of last year.

“Shandong province has made incipient achievement in de-capacity in general, a number of industrial companies with outdated capacity and high pollution were closed down, making room for the development of advanced industries and placing a solid ground for further healthy development of the province’s industrial economy,” said an official with Shandong Provincial Bureau of Statistics.