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China will "actively resolve the pileup of local government debt risks, and effectively regulate local governments' debt financing", said the statement.
China plans to cut ineffective steel capacity of 30 million tons and coal capacity of 150 million tons in 2018, according to a government work report released earlier this month.
China will also shore up points of institutional weakness and address financial violations at the root, CBIRC said.
China will accelerate the local government bond issuance this year to help the timely implementation of various projects.
China made substantial progress in supply-side reform in 2018, with capacity-cut goals in saturated steel smelting and coal mining sectors beaten, and deleveraging pushed forward steadily.
来源：资阳报