China to cut steel and coal output

Government to undertake 'large scale' reductions to combat oversupply

A statement on a Chinese government website said steel production would be cut by 100 to 150 million tons along with 'large scale' reductions in coal output.

In a separate announcement, the government pledged to expand a "new urbanization" program that will "more aggressively develop" small and medium sized areas with populations more than 100,000.