China's steel industry is confronted with serious overcapacity, sluggish demand, declining profits and stricter environment standards, an official said Wednesday.
To tackle the problems, the Ministry of Industry and Information Technology (MIIT) has rolled out a batch of measures, including curbing newly added capacity and pushing industrial consolidation, said Feng Fei, a director with the MIIT.
The country aims to cut outdated steel production capacity by a total of 27 million tons this year, Feng said.
US to keep antidumping, countervailing duty orders on steel line pipe from China
2014-04-24China steel demand grows in positive way, but at slower pace
2014-04-10Banks‘ bad loans rise on troubles in steel industry
2014-04-02More steel makers closures seen
2014-04-01Nation drops steel industry consolidation target
2014-03-26Hebei tears down 19 steel furnaces to curb air pollution
2014-02-24Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.