China most hopes that the international steel market will be stable

"China does not encourage a large number of exports of steel products. On the contrary, it also adopts a series of practical measures to control the export of steel products." "We are still full of confidence in the prospects of China-EU economic and trade relations and are willing to work with the EU and the UK to deepen cooperation in various fields." "China, Japan and Korea The three parties have reached an agreement on the scope of the FTA and decided to exchange information on market access barriers for important service sectors since the next round of negotiations. On July 5, the Ministry of Commerce held a regular press conference, spokesperson Shen Danyang made a concentrated response to the current hot issues in the economic and trade field.
According to the statistics of the General Administration of Customs of China, China's steel exports totaled 46.28 million tons from January to May this year, up 6.4% year-on-year. In May, the export of steel products was 9.42 million tons, an increase of 3.7% over April. Some foreign media are worried that the continuous increase in China's steel exports is not conducive to the recovery and stability of the international steel market. At the regular press conference of the Ministry of Commerce held on July 5, Shen Danyang, a spokesperson for the Ministry of Commerce, responded that China’s steel production is mainly to meet domestic demand. China has always refused to export large quantities of steel products. A series of practical measures to control the export of steel products. As a big steel country, China most wants to see the stability of the international steel market.
China does not encourage steel export data showing that China's steel exports increased by nearly 30% from January to May last year, while only slightly increased by 6.8% in the same period of this year, an increase of about 22 percentage points from last year. Although steel exports continued to grow in May this year, they only increased by 3.7%. "This trend shows that China's stability to the international steel market has been and is still contributing, not the opposite." Shen Danyang said at the meeting.
Shen Danyang said that for a long time, China's steel production has been mainly to meet domestic demand, and steel products are not encouraged to be exported in large quantities. On the contrary, a series of practical measures have been taken to control the export of steel products. For example, on the one hand, some steel products are subject to export tariffs to reduce exports, on the other hand, the export tax rebate rate for steel products is actively lowered. At present, the tax rebate rate for all steel products is lower than the 17% VAT rate, and some products are not refunded.
Shen Danyang emphasized that as a major steel country, China most wants to see the stability of the international steel market. Steel international trade is based on the differences and complementarities between industries, and is derived from the needs of importing countries and is essentially a market behavior. China's steel products market is highly competitive, and many products are highly complementary to imported products. The export of Chinese steel products not only promotes the development of the importing economy, but also brings practical benefits to downstream users and consumers of the importing side. In addition, while the export volume of steel products has increased, China has also imported a large amount of foreign iron ore. In the first five months of this year, iron ore imported from China increased by 9.1% year-on-year. "Therefore, the trade of steel products should be viewed comprehensively, objectively and rationally," Shen Danyang said.
Trade protection does not help solve problems According to Shen Danyang, a recent report released by the WTO and the "Trade and Investment Barriers Report 2016" released by the European Commission recently mentioned that trade protectionism is on the rise in recent times. Developed countries, including some G20 members, are particularly serious, and one-third of trade remedy measures directly target China.
At present, the frequent trade frictions in the steel sector are particularly serious. In this regard, Shen Danyang reiterated at the meeting that the adoption of trade protection measures will not help to fundamentally solve the development of the global steel industry. On the contrary, it will only further impact the international trade order. The Chinese government still resolutely advocates prudence, restraint, and standardized use of trade remedy measures, emphasizing that steel trade frictions should be resolved through consultation and exchanges, industry cooperation, etc., to achieve mutual benefit and win-win results.
Shen Danyang pointed out that China has become the country with the most anti-dumping investigations in the world for 21 consecutive years, and has become the country with the most countervailing investigations in the world for 10 consecutive years. China has always believed that trade protectionism has intensified trade frictions and worsened the international trade environment. The major economies of the world have also recognized that in the current weak global economic recovery, trade protectionism will not only hinder economic recovery, but will further exacerbate the crisis.
"The Chinese government supports Chinese enterprises in responding to trade disputes in accordance with the legal procedures of the importing country, requiring and guiding enterprises to carry out orderly production and legal operation, and encourages trade cooperation to reduce trade frictions and achieve mutual benefit and win-win results." Shen Danyang stressed that For some members to violate the WTO rules and abuse trade restrictions, China will negotiate to negotiate to correct its wrong practices and resort to the WTO dispute settlement mechanism to safeguard the legitimate rights and interests of China. The Chinese government will, as always, develop equal, friendly, mutually beneficial economic and trade relations with all countries in the world, work with countries to maintain a fair and reasonable trade order, and jointly promote the early recovery of the global economy.

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