China is promoting a new industrial revolution in the steel industry

The vice chairman of the China Iron and Steel Association introduced that in 2016, with the slowdown of economic growth and weakening demand, the situation that steel supply outstripped demand became increasingly obvious, and output showed a downward trend; the industry's profitability improved, and signs of balanced development emerged in the steel industry chain; iron and steel enterprises are accelerating the implementation of structural adjustment, transformation and upgrading, which has laid a foundation for the healthy development of China's iron and steel industry in the future.

He stated that as China's economy enters in-depth adjustment, the iron and steel and coal industries should adapt to new situations and new changes, achieve a new balance in the new environment and on the new platform, and continue to maintain a healthy and stable development status with an appropriate speed, proper approaches, higher efficiency and better quality. Facing the same external environment, no party on the steel industry chain can "keep itself untouched" for a long time, and industrial chain cooperation is an inevitable trend. Therefore, all stakeholders in the iron and steel industry should set aside short-term interests, proceed from the perspective of industrial chain construction, and establish a long-term and stable cooperative relationship of real benefit sharing and risk sharing with upstream and downstream enterprises.

On September 6, at the 2nd Iron and Steel Industry "New Knowledge, New Technology, New Ideas" Summit Forum, the Party Secretary and Secretary-General of the China Iron and Steel Association pointed out that at present, China's iron and steel industry has entered a period of in-depth reform and adjustment, which is an important strategic adjustment for China's iron and steel industry to achieve the goal of "growing larger and becoming stronger". The transformation of China's iron and steel industry from scale-oriented efficiency to quality-oriented efficiency, the acceleration of the balance between supply and demand in the iron and steel industry, and the promotion of transformation and upgrading—this series of issues all need the support of new knowledge, new technology and new ideas with strategic height, and require long-term and extensive discussion and demonstration by experts, scholars and business elites from various fields.