The Ministry of Industry and Information Technology of the People’s Republic of China (MIIT) has revealed that it is preparing an ‘Action Plan for the Transformation and Development of the Steel Industry (2015-2017)’.
The action plan is expected to be formally introduced by June (2015) if the current progress in the country’s steel sector is maintained.
Over capacity and the low profitability of the steel industry has been a concern in China in recent years. Coupled with environmental issues and the high energy consumption of smaller steel mills, the central government is now readying itself to put action in place to rectify the situation.
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