{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='China to lay off 1.8 million coal and steel workers to cut overcapacity' data-url='/boclips/videos/687900b5860c8396ee54db2e' data-video-url='/boclips/videos/687900b5860c8396ee54db2e' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nChina to lay off 1.8 million coal and steel workers to cut overcapacity\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eAround 1.8 million Chinese coal and steel workers are to be laid off as Beijing tries to reduce overcapacity. That is about 15 percent of the total workforce in those industries with those people being “reallocated”.  It is not clear...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eAround 1.8 million Chinese coal and steel workers are to be laid off as Beijing tries to reduce overcapacity.\u003cbr/\u003e\u003cbr/\u003e That is about 15 percent of the total workforce in those industries with those people being “reallocated”. \u003cbr/\u003e\u003cbr/\u003e It is not clear when the layoffs will start or how long they will take.  \u003cbr/\u003e\u003cbr/\u003e China’s minister for human resources and social security Yin Weimin said he was “confident” the “very difficult task” can be carried out.\u003cbr/\u003e\u003cbr/\u003e He told reporters at a news conference: “At present we are taking the steel and coal industries as our entry points to begin work in mitigating overcapacity and have already got some initial statistics, the (number of job losses in the) coal mines is roughly 1.3 million workers, and in steel it is 500,000.”\u003cbr/\u003e\u003cbr/\u003e The government has said 100 billion yuan (14 billion euros) will be set aside to relocate workers and pay off the debts of companies which have to close.\u003cbr/\u003e\u003cbr/\u003e China, which makes half the world’s steel, exported a record 112 million tonnes of steel last year, forcing down prices and putting pressure on other producers.\u003cbr/\u003e\u003cbr/\u003e This is the first time China has revealed figures that underline the magnitude of its task in dealing with bloated and inefficient state enterprises amid slowing economic growth.\u003cbr/\u003e\u003cbr/\u003e  China’s surplus steel is more than the entire steel production of Japan, Germany and the \u003ca href='https://t.co/cQ6uWwF2gv' target='_blank' rel='nofollow'\u003eUS\u003c/a\u003e pic.twitter.com/39o7b6ICJH— The Economist (@EconBizFin) 29 de fevereiro de 2016\u003cbr/\u003e\u003cbr/\u003e For China’s stability-obsessed government, keeping a lid on unemployment and any possible unrest that may follow has been a top priority.\u003cbr/\u003e\u003cbr/\u003e The world’s second-largest economy grew 6.9 percent in 2015, the weakest in 25 years, and the government aims to achieve economic growth of 6.5 to 7.0 percent in 2016.\u003cbr/\u003e\u003cbr/\u003e “The economy faces relatively big downward pressures and some firms face difficulties in production and operation, which would lead to insufficient employment,” Yin said, adding that increasing numbers of graduates this year would also add pressure in the job market.\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' 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