China will restructure its giant steel industry through output cuts, although it did not announce any target in its most recent intervention to address overcapacity in the sector, which is sparking world trade frictions.

China pledged to address the overproduction crippling its steel and oil sectors, two of the country’s worst-performing and most-polluting industries, as the government looks to reconfigure its economy and meet robust growth targets.

China, aiming to restructure its economy and meet ambitious growth targets, has pledged to address overproduction challenges in its steel and oil sectors, according to a Bloomberg report. These two industries,