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Print[Ferro-alloys.com] National Development and Reform Commission (NDRC)，the Ministry of Industry and Information Technology(MIIT) and China Iron and Steel Association(CISA) held a meeting recently to implement the guidance on resolving severe overcapacity of the State Council. They decided to strengthen standard management on steel industry, resolutely curb new capacity investment and forbid new capacity project. Adjustment in six major areas including Hebei was taken as the priority among priorities.
A director of NDRC disclosed NDRC would curb blind capacity expansion resolutely and handle illegal capacity properly. It would promote upgrading of steel industry and application of high-performance steel. Merger and reorganization of enterprises would be encouraged as well as reasonable industrial transfer.
CISA said it would cooperate with related government departments to contain blind capacity expansion and establish precaution system on steel overcapacity. Self-discipline and coordination of its member enterprises would be strengthened. Supportive fiscal system and fiscal policy would be studied.
It would speed up the revision on industry standard system.
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