China government to take direct approach to managing coal & steel capacity cuts, layoffs

Reuters reports on how China is to deal with capacity cuts, layoffs & stockpiling in energy and metals

• Will provide smaller-scale financing deals to groups of producers of non-ferrous metals, such as aluminum, for stockpiling and capacity cutback initiatives
• Will allocate 30 billion yuan over the next three years to support the closure of small and inefficient coal mines
• Will re-deploy around 1 million workers
• Similar measures are expected to be unveiled for the steel sector

Reuters with the report, and there is more there

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China continues to try to manage the impact of slow down, restructuring.