Steel Investment under strictly control

Resource from: China Economy Likes:2941

Apr 22,2005

China's State Council has adopted a policy to "strictly control" fixed-asset investment in the steel sector to prevent overly rapid growth of the country's steel industry. China's top policymakers on April 20 said that the country must "strictly control" growth of investment on fixed assets in the iron and steel industry to avoid excessive expansion of the sector. Participants of Wednesday's executive meeting of the State Council, China's cabinet, said investment on fixed assets in the industry had already been "rather great" at the moment. The meeting, chaired by Premier Wen Jiabao, deliberated and passed in principle China's iron and steel industry development policy. The meeting said industrial structure of the iron and steel industry must be further adjusted to ensure healthy development of the industry. Manufacture of products that consume a very large amount of energy and materials and cause heavy pollution must be controlled, while export of such products must also be strictly controlled. The meeting called for an accelerated shift of growth mode in this sector, better efficiency in the utilization of energy and resources, and a "proper and economical" use of the steel products. The meeting also underlined the importance of promoting the consolidation of the country's iron and steel industry, optimizing its geographical distribution, and building a solid resource supply system that taps both domestic and overseas resources. Although it has contributed greatly to China's economic growth, China's rapidly-expanding iron and steel industry has also gravely strained electricity supply and the country's transport system, caused serious pollution and intensified international competition for iron ores. (Source: Xinhua)

(China Economy)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous INA France In Haguenau Bearing Plant Upgrade
Next Chinese automotive bearing requirement will reach 0.3 billion units in 2005

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.