China's Industry and Information Technology Ministry (MIIT) on Tuesday pledged tougher measures to cut overcapacity in bloated sectors as the problem has become a severe drag on economic growth. China will ban new projects in steel, cement, electrolytic aluminum, flat glass and shipbuilding industries before 2017, while gradually eliminating existing projects that were found to be below standards, MIIT vice minister Mao Weiming revealed at a press conference.
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