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Not fair to blame overcapacity in steel sector on China - Premier Li-The 18th China(Guangzhou)Int’l Fastener & Equipment Exhibition
6/6/2017 紧固件展-紧固件采购会-国际紧固件展-fastener expo |
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Global Times reported that Chinese Premier Li Keqiang in a keynote speech at the China-EU Business Summit on Friday in Brussels said that excess capacity is a cyclical phenomenon and structural problem globally in the market economy, and it is not fair nor objective to blame it on China.
He said "In China''s steel production, 86 percent is for domestic consumption. China''s steel exports to the EU only totaled 6.47 million tonnes last year, and in the same year, China also imported 1.22 million tonnes of steel from the EU.”
Mr Li said "China does not subsidize steel exports. On the contrary, we introduced a series of measures to control steel exports starting a decade ago, including levying export tariffs, the highest level of which is 20 percent even today.”
Mr Li added that China is willing to strengthen the sharing of experience in cutting overcapacity under the framework of the Global Steel and Iron Forum, and establish a mechanism on steel and iron trade between China and the EU, promoting healthy development in the global steel and iron industry.
-The 18th China(Guangzhou)Int’l Fastener
& Equipment Exhibition
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