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NDRC: Five Key Areas to Advance Capacity Reduction in the Steel Sector This Year
Release date:
2018-05-16
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The National Development and Reform Commission (NDRC) held a press conference on the country's macroeconomic performance. Yan Pengcheng, Director of the NDRC’s Policy Research Office and spokesperson for the commission, explained that this year’s efforts to reduce excess capacity will focus on "breaking," "establishing," and "reducing," all aimed at improving the quality of the supply system. These measures will adhere to market-oriented and rule-of-law principles, gradually shifting the emphasis from overall capacity reduction to more systematic and structural approaches—prioritizing not just cutting back but also optimizing and upgrading production capacities. Specifically, the initiatives in the steel and coal sectors will each have distinct priorities.
The National Development and Reform Commission held a press conference on the country's macroeconomic performance, attended by the Director of the NDRC's Policy Research Office. News Spokesperson Yan Pengcheng explained that this year’s capacity reduction efforts will focus on enhancing the quality of the supply system, with key emphasis on "breaking," "establishing," and "reducing" outdated capacities. The process will adhere to market-oriented and rule-of-law principles, gradually shifting from a focus on overall capacity cuts to a more systematic approach that prioritizes eliminating inefficient capacity while boosting high-quality, structurally optimized production. Specifically, the initiatives in the steel and coal sectors will each have distinct priorities.
In the steel sector, there are five key areas of focus: 1. Firmly address "zombie enterprises," accelerating their complete exit through measures like overall withdrawal, shutdowns, and capacity elimination. 2. Strictly enforce environmental, quality, energy consumption, water usage, and safety laws and regulations, as well as relevant industry policies, while stepping up enforcement actions and compliance checks against illegal and non-compliant activities in the steel industry. 3. Rigorously scrutinize steel capacity replacement projects and ensure proper project registration, preventing situations where capacity is reduced only to be immediately increased again. 4. Enhance the reporting and response mechanisms, establish accountability systems, strengthen joint enforcement efforts, and continuously deploy satellite remote sensing monitoring. Any instances of "illegal steel production" resurfacing, previously resolved overcapacity being revived, or newly added capacity operating illegally will be promptly identified, investigated, and publicly reported—ensuring that negative examples are firmly tackled and maintaining unwavering pressure on the industry. 5. Improve the policy environment to support companies in pursuing mergers and acquisitions, adhering to the principles of enterprise-led initiatives, government guidance, and market-oriented operations, thereby driving the steel industry toward resolving excess capacity and optimizing its industrial structure.
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