Chinese steel enterprises under huge pressure of reform

Posted on 13 May 2010

Premier Wen Jiabao put forward 'to tie the wrist knock out backward production capacity,' which makes iron and steel industry on the frontline to face the policy on May 5, 2010. Whether for social responsibility, or for the industry's long-term interests, energy conservation and eliminate backward production capacity have become a major task which China's steel industry had to put into action. But the industry insiders said iron and steel industry is many problems.


Akio Mimura, Chairman of Nippon Steel Corporation, demanded China's steel industry to take concrete action in the elimination of backward production capacity and reduce carbon emissions, 'I hope that China's steel industry seriously consider what responsibility it should shoulder in the world economy and stable development of the world steel industry, and what they can do.'Akio Mimura said that China's steel industry needs to take action as soon as possible to eliminate backward production capacity. Chinese steel industry's problems have caused complaints and accusations from international counterparts.


Zhang Xiaogang, general manager of Anshan Iron and Steel Group, said the development of energy saving technology is the future direction of the steel industry. The investment in energy saving and pollution reduction would turn into long-term industrial advantage, and even change the relative competitive advantage of the iron and steel industry.


Zhang suggested that first, China should closely link backwardness to industrial upgrading; second, to promote the elimination of backward production capacity through policy guidance; last, to establish and strengthen policies , regulations and mechanisms to eliminate backward production capacity, and properly solve the immediate interests of workers and companies such as the disposal of assets and personnel placement.


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