He Wenbo: As of June 2023, the domestic plan to update steelmaking capacity is about 405 million mt

He Wenbo, secretary of the party committee and executive chairman of the China Iron and Steel Industry Association, recently said that for the steel industry, there are two things (two basic measures) which are creation of a new mechanism for capacity management and optimization of new policies for joint reorganization. After the two basic measures, if the iron and steel industry wants to improve efficiency, it must complete three major transformation projects in steel industry, which are capacity replacement, ultra-low emissions, and extreme energy efficiency.