MIIT: To prevent resurgence of substandard steel and closed surplus production capacity
2020-01-21 12:01:51 [Print]
The State Council Information Office of China held a press conference on development of communications industry on January 20th, 2020. According to Huang Libin, the Director of Operation Monitoring and Coordination Bureau under MIIT, illegal activities in steel industry must be cracked down on once they appear.
Mr. Huang pointed out that substandard steel shows signs of resurgence as some companies take risks for profits against the backdrop that steel prices pick up and steel market turns better. Next, MIIT will work with NDRC and departments and units related to inter-ministerial joint conference to urge all local governments to continue to carry out the working mechanism of "Inspecting once illegal activities are reported" in order to prevent the resurgence of substandard steel and closed surplus production capacity and the increase of new steel production capacity. Meanwhile, departments and units related to inter-ministerial joint conference will timely conduct on-site inspections of typical cases in order to purify the steel market environment for fair competition.
Mr. Huang pointed out that substandard steel shows signs of resurgence as some companies take risks for profits against the backdrop that steel prices pick up and steel market turns better. Next, MIIT will work with NDRC and departments and units related to inter-ministerial joint conference to urge all local governments to continue to carry out the working mechanism of "Inspecting once illegal activities are reported" in order to prevent the resurgence of substandard steel and closed surplus production capacity and the increase of new steel production capacity. Meanwhile, departments and units related to inter-ministerial joint conference will timely conduct on-site inspections of typical cases in order to purify the steel market environment for fair competition.
