Plan to be issued for overall cuts in excess capacity

China's overall plan for resolving industrial overcapacity has been drafted and will be issued soon, media reports said.

Citing Jing Xiaobo, an official from the Ministry of Industry and Information Technology, National Business Daily reported on Monday that the plan - drafted by the ministry and the National Development and Reform Commission - is finished.

This plan will be the country's second effort in less than two months to rein in overcapacity, a chronic problem that has plagued China's industrial sector for four years.