China to resolve industrial overcapacity, focus on coal, steel: Li

China will resolve overcapacity in industry, with a focus on the steel and coal sectors, and appropriately deal with "zombie" companies this year, Premier Li Keqiang said in remarks prepared for delivery at the opening of the annual meeting of parliament. Li reiterated on Saturday that the exchange rate of the yuan, also known as the renminbi, would be kept basically stable this year, while Beijing would continue to improve the exchange rate regime. The government would strengthen macro prudenti