China’s Huayou Cobalt chief proposes battery material policy to tackle overcapacity

China should adopt measures to tackle overcapacity in the lithium battery material industry, the chairman of Zhejiang Huayou Cobalt proposed ahead of the country's annual parliamentary meeting, state media reported on Monday. Overinvestment led to "severe overcapacity" in the last year, said Chen Xuehua, who is a delegate to China's National People's Congress (NPC), which gathers in Beijing from Tuesday. Chen cited "significant declines" in industry capacity utilisation.