China aims to close loopholes in steel capacity growth

The Chinese government announced suspending the steel capacity replacement program, as previously implemented measures left loopholes for continued expansion.

On August 22, the General Office of the Ministry of Industry and Information Technology (MIIT) issued a notice about a capacity replacement announcement ban. The measure was claimed to be temporary – until new policies were formulated. The Ministry said it would “…work with relevant parties to accelerate the research and revision of the steel capacity replacement measures, further improve the policy measures for capacity replacement, and widely solicit opinions and suggestions from relevant parties before issuing and implementing them.” Continue Reading? Please click box below!