China to Forbid New Steel Production Capacity and Give Greater Support to Mergers and Acquisitions

Zhang Haideng, deputy director of the Raw Materials Industry Department of the Ministry of Industry and Information Technology, said at the 2023 (14th) China Iron and Steel Development Forum on March 25 that capacity replacement shall be implemented in great efforts and new capacity shall be prohibited this year. The reform of mixed ownership will be further deepened with acceleration of industry mergers and reorganisations, through which the status quo of the steel industry in some regions will be improved.