China: Steel Industry

Abstract

The development of China’s steel industry has been phenomenal in the past 30 years in terms of both the speed and the scale of the industry’s growth and development. By 2014, the Chinese crude steel output reached 823 million tonnes accounting for just above 50% of the total global steel outputs in that year (Song and Liu, 2012). The purposes of this chapter are to provide some historical background of the industry development including its rapid expansion over the reform period, discuss the key issues involved in the structural changes of the industry, and how the industry copes with the new challenges in China’s move towards economic rebalancing. Show more