Reducing overcapacity is a must for China to transform its economy BBMG Corp.is a large cement producer listed on China’s stock market.Two of its subsidiaries are being eliminated because the Ministry of Industry and Information Technology(MIIT) has deemed their capacity excessive. "We will,in accordance with the MIIT’s requirements,pull down the two subsidies by the end of September.The eliminated capacity only accounts for a small proportion of the corporation’s total capacity,therefore the performance of the corporation will not be affected,"said a BBMG statement. According to its 2013 semi-annual report, BBMG now has a cement production capacity of 45 million tons,while each of the two subsidies to be shut down only
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