China's steel firms have not been dumping in the global market, and other countries must not resort to trade protectionism as this will not help the contracting global steel industry, said a senior Chinese official Tuesday.
China's steel makers are very competitive globally and this is due to the steel companies themselves, not government subsidies, said an official with the National Development and Reform Commission (NDRC).
China now uses the most efficient, low energy consuming, and highly sophisticated steel manufacturing equipment in the world, said the official in charge of the steel sector at the NDRC, China's top economic planner. This equipment helps cut production costs remarkably and boost firms' competitiveness, the official added.
From the perspective of China's national conditions, we do not encourage steel exports, and we have actually taken a series of measures to control the export of metal products, said the official.
To solve overcapacity in the steel industry, which is a global issue, China has taken strong and effective measures to cut excessive production and substantial effects are emerging, said the official.
The NDRC official urged other countries and regions to take similar measures to cut overcapacity, as well as making it clear that they should stop pointing fingers at China or resorting to protectionist trade measures. P
rotectionism will not fundamentally help solve the problem in the global steel industry and would, on the contrary, deal a further blow to international trade order, the official said.
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