The National Development and Reform Commission stated that during the 15th Five-Year Plan period, crude steel production will continue to be regulated, and any unauthorized expansion of capacity will be strictly prohibited.
The Department of Industrial Development of the National Development and Reform Commission has released an article titled “Vigorously Promoting the Optimization and Upgrading of Traditional Industries.” The article points out that for raw material industries such as steel and petrochemicals, the key lies in balancing supply and demand and optimizing industrial structure. The raw material industry is a vital foundational and pillar industry for China’s national economy. Currently, industries like steel and petrochemicals generally face challenges including insufficient dynamic balance between supply and demand and suboptimal product structures. During the 15th Five-Year Plan period, the raw material industry should deepen supply-side structural reforms, adhere to coordinated efforts on both the supply and demand sides, increase the supply of high-end production capacity, and ensure that overall scale remains moderate, supply and demand are basically balanced, and product structures are upgraded. Furthermore, it is necessary to strengthen industry management and persist in the strategy of “reducing oil, increasing chemicals, and improving quality.” Continue to implement controls on crude steel production, strictly prohibit the illegal addition of new capacity, and promote survival of the fittest. Focus on the needs of key industrial chains, support enterprises in accelerating technological innovation in their industries, promote the R&D and industrialization of innovative products, speed up addressing shortcomings and weak links, and drive industries to rapidly move toward the mid- to high-end. Strengthen routine monitoring and dispatching, and effectively leverage the role of the early-warning mechanism.
