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Xu Lejiang, deputy director of the Ministry of Industry and Information Technology, said today that in 2016, the steel industry’s profitability was achieved. In 2016, the profits of steel companies increased by 2.02 times, and the losses of loss-making enterprises fell by 51% compared with the same period of 2015, and the employees of some enterprises Income also recovered.
The Information Office of the State Council held a press conference today, inviting the Minister of Industry and Information Technology, Miao Wei, to introduce the development of the industrial communications industry in 2016, and to answer questions from reporters. The meeting also attended the conference, including Deputy Minister of Industry and Information Technology Xu Lejiang, Industry and Information. Zhang Feng, spokesperson and chief engineer of the Ministry of Finance.
Xu Lejiang introduced that in the process of de-capacity in the steel industry in 2016, the principle of persistence was that the market was forced, the main body of the enterprise, local organizations, central support, highlighting key points, and complying with the law. We have made solid progress and achieved good results in the withdrawal of 65 million tons of capacity in the steel industry. A number of production capacity that is not in compliance with laws and regulations, industrial policies, and inefficient and weakly competitive capacity have been removed.
Xu Lejiang said that the in-depth development of capacity-raising work has played a positive role in restoring normal steel market. The role of this is very important because the market economy is an expectation for business operators, suppliers and demanders. This expectation, plus it has normal needs. So everyone knows that from the beginning of the year, the China steel price index rose to 56.51 points at the end of the year, rising by 76.5%.
Xu Lejiang said that from this perspective, we also recognize that the central government's decision-making and judgment are wise, and the policies introduced are effective, but also bring confidence to the market and industry.
Xu Lejiang introduced that in 2016, the profit of steel enterprises increased by 2.02 times compared with the same period of last year. The loss of loss-making enterprises decreased by 51% compared with the same period of 2015, and the income of employees of some enterprises also recovered.