china takes on steel overcapacity
Last Updated : GMT 06:27:14
Arab Today, arab today
Arab Today, arab today

China takes on steel overcapacity

Arab Today, arab today

Arab Today, arab today China takes on steel overcapacity

Beijing - XINHUA

A list of 45 Chinese steel enterprises that meet national iron and steel industrial standards was published Tuesday in the latest move to tackle excess production capacity that has plagued the sector.The Ministry of Industry and Information Technology (MIIT) said in a statement that the listed enterprises are up to standards regarding product quality, environmental protection, energy consumption, workmanship and equipment, production scale as well as work safety and other social responsibility.The 45 qualified steel makers consist of 30 state-owned enterprises like Baosteel and Angang Steel, and 15 private companies, whose combined crude steel output last year reached 300 million metric tons, or 41.4 percent of the country\'s total steel output, according to the ministry.The 45-member list was chosen among 104 firms located in 19 provinces, municipalities and autonomous regions.Miao Zhimin, deputy director of the Raw Materials Department of the MIIT, said the ministry would work with other government departments to support those qualified enterprises and facilitate the merger and restructuring of the steel industry.Companies that fail to meet the national standards will have their room for development squeezed with higher electricity prices and stricter administrative measures, Miao said.Even though China has remained the world\'s largest steel producer for many years, overcapacity has been a longstanding problem for the sector, as local governments prefer to increase the size of local steel companies to drive local economies, leading to a combined production capacity that surpasses the combined output by the rest of the world.China\'s steel capacity stood at around 1 billion metric tons in 2012, but major steel makers registered a mere 1.5 billion yuan in combined profits last year, according to MIIT data.Currently, the country relies mainly on administrative approval to regulate the steel industry but has little effect in eliminating overcapacity.\"It has been proved that the existing regulation measures fail to stop the indiscriminate development of the steel sector,\" Miao said, adding \"we should explore a new way to regulate the sector and make it follow market rules and develop orderly.\"He said the MIIT would continue to review enterprises applying for examination of the national standards this year.About 80 percent of the existing steel production capacity will be regulated according to the new national standards by 2015, he added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china takes on steel overcapacity china takes on steel overcapacity

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china takes on steel overcapacity china takes on steel overcapacity

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday