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China rebuts EU envoy’s steel charge
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CHINA yesterday refuted accusation by an EU diplomat that its inefficiency in addressing overcapacity of the steel sector harmed European manufacturers.
“We hope anyone who would like to make such remarks could make clear the facts and respect facts,” foreign ministry spokesman Lu Kang said, while commenting the words by European Union’s Ambassador to China Hans Dietmar Schweisgut.
Schweisgut said on Monday that Beijing was not doing enough to address overcapacity in its steel industry that has hit European manufacturers hard.
“China is addressing the steel industry’s overcapacity with greater determination, earlier actions and more practical solutions than any other country,” Lu said at a press briefing.
He said the government has prioritized the steel industry in reducing overcapacity. Instead of offering subsidies, China is the only country that has imposed restrictions on steel exports.
According to him, China had cut steel capacity by 90 million tons in the past five years, almost doubling the original plan of 48 million tons.
Lu noted that the steel industry’s overcapacity is a global problem rooted in weak demand caused by the worldwide economic depression. The fundamental settlement is to push for a steady and sustainable recovery of the world economy, which requires joint efforts from all countries.
“EU imported 32 million tons of steel in 2015, only one fifth of which is from China. It does not make sense to ascribe the dilemma of European manufacturers to China,” Lu said.
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