15 May China denies the charge on excessive steel production
The Asian giant denied the accusation of a diplomat of the European Union for his bad done to reduce the capacity of the steel industry that caused consequences to European manufacturers.
Lu Kang, the representative of Chinese Foreign Ministry said: “We hope that anyone who want to make such statements, can do it clear and respecting the facts”, upon hearing the words of Hans Dietmar Schweisgut, EU ambassador in China.
Hans Dietmar Monday said that Beijing is not doing what it should to reduce capacity in the steel industry, which has brought consequences to European manufacturers. Kang said that “China is addressing the overcapacity in the steel industry with more determination, more timely actions and more practical solutions than any other country.”
The delegate said in a press conference that the government takes into account the steel industry as a priority to reduce production capacity. In fact, China has placed restrictions on steel exports. As Lu Kang said, the Asian giant has diminished the ability of steel in the last five years to 90 million tons.
The surplus capacity in the industry on a major global problem is established in demand caused by the global economic depression. So the solution is to propel a strong and sustainable recovery of the world economy, which needs joint efforts of all countries. “The EU imported 32 million tons of steel in 2015, of which only a fifth of it comes from China. It makes no sense to attribute the dilemma of European manufacturers to China”, said Lu Kang.