FX.co ★ China to Support Steady Operation and Upgrading of Steel Sector

Chinese authorities have unveiled a strategic work plan designed to ensure the consistent functioning and structural enhancement of the nation's steel industry. According to a statement from the Ministry of Industry and Information Technology (MIIT) reported by Xinhua on Monday, the work plan sets targets for the 2025–2026 period. It aims for the steel industry to achieve an average annual growth of approximately 4% in value-added output. The plan also envisages improved economic performance, a more balanced market supply and demand, and a streamlined industrial structure. This initiative, released in collaboration with four additional government agencies, underscores the importance of advancing industry management practices to phase out outdated and inefficient production capacities, bolster competitive enterprises, and foster market stability. Furthermore, the plan advocates for heightened technological innovation to enhance the supply of high-end products, elevate the quality of bulk materials, and ensure the consistent supply of raw and fuel materials.