Industrial utilization rate to continue declining without government intervention, analysts say

China's top economic planner has pledged to take unprecedented steps to tackle industrial overcapacity as official data suggest the rate of industrial capacity utilization in the first half of the year hit a four-year low.

"Although overcapacity is an old and periodic problem that arises about every five years, it was not as serious before as it is now," said Li Zhongjuan, an inspector of industrial planning for the National Development and Reform Commission.