China vows to work with international community to solve overcapacity in steel industry

China said on Monday it is willing to work with the international community including Britain to solve the global overcapacity in steel industry via win-win cooperation.

Foreign Ministry spokesperson Lu Kang made the remarks at a daily press briefing in response to a question concerning the meeting between Chinese Foreign Minister Wang Yi and his British counterpart Philip Hammond last Saturday in Beijing.

Calling the overcapacity in steel industry a global issue brought by the decline of global need, Lu said Wang and Hammond exchanged views on how to jointly address the issue in the meeting.

According to Lu, Hammond spoke positively of China's great efforts on cutting the excess manufacturing capacity in steel industry during the meeting, stressing that Britain would like to appropriately solve the issue via bilateral and international cooperation.

China commended Britain's adherence to the open and free trade policy, said Lu, adding that China stood ready to tackle the issue together with Britain and the rest of the world via win-win cooperation.