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One of the main concerns for China in recent years has been excess capacity, especially in heavy industries like steel.
近些年，产能过剩，尤其是钢铁行业引起了人们的关注。
The central government has tried to address this issue, but Hu Yanping, an analyst at Custeel.com, says local governments’ continued support of steel producers is thwarting this attempt.
中央政府一直在解决问题，但中国联合钢铁网分析师胡艳平表示，由于当地政府对钢铁的不断支持，使得这一问题很难得到解决。
For instance, Lingyuan Iron & Steel Co. Ltd. is a state-owned enterprise in Chaoyang, Liaoning province.
例如辽宁省朝阳市凌源钢铁股份有限公司，该公司为国有企业。
It has been producing and distributing steel for construction since 1966.
自1966年以来，该公司一直生产钢铁。
According to the company, it has been the top tax contributor for the local government.
据公司所说，凌源钢铁一直是当地政府的主要税收来源。
However, with the slowdown of the property market, its profitability dwindled, and it became a beneficiary of local government subsidies, which since 2012 have covered hundreds of millions of yuan in losses.
然而，随着房地产市场投资放缓，效益低迷，凌源也因此获得了政府补贴，自2012年起，补贴经济损失数亿元。
According to a person familiar with the industry, there are more than 100 state-backed steel companies like Lingyuan in China.
据业内人士指出，像凌源这样的国有钢铁公司在中国有100多家。
Indeed, local governments elsewhere in the country continue to give steel producers hundreds of millions of yuan in the hopes that steel makers'contributions to public coffers will rebound.
在中国其它地区，当地政府继续向钢铁公司提供数亿元财政补贴，希望钢铁公司能为社会带来更大效益。
Additionally, local governments extend aid in order to avoid mass lay-off of workers for fear of social unrest.
此外，为了避免工人大面积下岗，引发社会动乱，当地政府扩大救助范围。
But those hopes might be in vain.
但这些希望或许均会落空。
Hu says, although steelmakers account for a significant share of local tax revenues, they are falling behind on their payments as the economy slows.
但胡艳平表示，尽管钢铁公司是当地税收的主要来源，但随着中国经济放缓，他们更是入不敷出。
Indeed, it is hard to see how steel makers can cough up the cash.
钢铁公司步履维艰。
The industry suffered a loss of 72 billion yuan in the first 10 months of this year and the sector made 300 million more tons of steel than it needed this year.
今年前10个月，钢铁产业损失720亿元，产能比去年增加3亿吨。
And industry associations think demand for steel will fall by 3 percent next year.
某钢铁产业协会表示，明年的钢铁需求将减少3%。
Not only that, continued support for such steel producers means market forces won't be able to play the decisive role of ensuring that resources are efficiently distributed, says a person familiar with the matter.
消息人士指出，由于政府不断扶持，市场在资源配置中的决定性作用无法得到充分发挥。
Caixin has argued that as history has shown, cutting overcapacity won't be painless.
财新认为以史为鉴，去产能并不会一帆风顺。
But in the 1990s the government has shown plenty of boldness in restructuring state-owned enterprises, leading China into an era of double-digit growth.
但在上世纪90年代，政府改革国有企业势头迅猛，经济呈两位数趋势增长。
Now, those nerves of steel will be needed more than ever.
如今，钢铁产业改革迫在眉睫。
译文属可可英语原创，未经允许，不得转载。
