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Chinese Steel Weekly-20160516

 

1. According to the statement released by Mr. Xin Guobin, Vice Minister of Ministry of Industry and Information Technologies of the PRC in the 9th China International Steel Congress held on May 16th 2016, transformation and upgrading of the steel industry should be promoted emphasizing accelerated development of intelligent manufacturing.

 

MPI's comments: ntelligent manufacturing is not only a major trend of future development of the manufacturing sector, but also an important focus for the steel industry to improve quality and efficiency. The steel companies should execute digital and network operation for the whole process by means of establishment of big data platform in order to promote transformation and upgrading of steel production.

 

 

2. According to the announcement released by the Ministry of Finance, Central Government will issue a specific bonus and subsidies with amount of 100 billion yuan supporting steel and coal industry to remove over capacity.

MPI's comments: 100 billion yuan maybe not sufficient with respect of target of over capacity elimination and labor resettlement involved.Varied management rules should be issued to protect the fund from cheating as well as to supervise practical progress of over capacity elimination.

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