, Beijing, Nov. 11 (Xinhua) -- Focusing on improving the basic capacity of the industry China's steel industry strives to solve the pain points of three major industries, such as capacity control and expansion

China News Financial Reporter Ruan Yulin

He Wenbo, Secretary of the Party Committee and Executive Chairman of China Iron and Steel Association, said at the "19th China Iron and Steel Industry Chain Market Summit and Lange Steel Network Annual Meeting" that the current steel industry should focus on improving the basic capacity of the industry and the level of the industrial chain as the fundamental task, adhere to the two major development themes of green development and intelligent manufacturing, focus on solving the three major industry pain points of controlling capacity expansion, promoting industrial concentration and ensuring resource safety, and continue to promote the internationalization of China's steel industry.

Liu Shijin, a member of the Monetary Policy Committee of the Central Bank and vice chairman of the China Development Research Foundation, said that there are still new development opportunities for the steel industry, which will expand the demand space of the steel industry characterized by the development of small and medium-sized towns in the metropolitan area, and the steady growth of investment in manufacturing and service industries will help to steadily improve the supply and demand of the steel industry. In addition, the development of digital technologies such as low-carbon green transformation and generative artificial intelligence will drive the transformation and upgrading of the steel industry and strengthen its competitive advantage on a global scale.

Li Daokui, dean of the Institute of Chinese Economic Thought and Practice at Tsinghua University, said that 2024 is a year of recovery for economic growth, and the overall international situation will improve. The steel industry still has a lot of room for development driven by urbanization and the joint construction of the "Belt and Road".

Fan Tiejun, president of the Metallurgical Industry Planning and Research Institute, pointed out that China's iron and steel industry is in a critical period of transformation from large-scale efficiency to professional innovation, how to grasp the opportunities and respond to challenges in the new stage, promote the high-quality development of the industry, and promote the new industrialization process of the industry is the first priority at present, and digital transformation and upgrading has become an important means to enhance the core competitiveness of China's iron and steel industry. It is believed that with the joint efforts of the whole industry, the digital intelligence of steel will usher in a broader development prospect and provide an important engine for promoting the progress of the industry.

Zhang Xiaohui, director of the Iron and Steel Division of the Hebei Provincial Department of Industry and Information Technology, said that at present, the integration and development of a new generation of information technology and traditional industries such as steel has become an important driving force to promote the quality and efficiency of the steel industry. It is hoped that colleagues from all walks of life can work together to help the steel industry build a foundation with numbers, strengthen steel with wisdom, and recreate new advantages for development.

The conference was hosted by Lange Steel Network and Beijing Metal Materials Circulation Industry Association, with the theme of "New Prospects for the Industry - Capacity Governance Mechanism and Structural Development", inviting government leaders, famous economists, well-known entrepreneurs, and elites in the steel industry to take the pulse of the macroeconomic situation, focus on industry hotspots, and jointly discuss the development direction of the industry. (ENDS)