Technological progress and capacity expansion

After the reform and opening up, China's steel industry has embarked on the road of rapid development. Especially since entering the new century, China steel manufacturers have entered a new stage of development. In 2008, China's crude steel production exceeded 500 million tons, accounting for 38.2% of the world's total. In 2018, China's steel production exceeded 900 million tons, accounting for 50% of the world's steel production.

China steel manufacturers have strategically expanded their presence in international markets through initiatives such as the Belt and Road Initiative and overseas acquisitions. The China steel manufacturers have given continuous policy support to the development of the steel industry. The "Guiding Opinions on Promoting the high-quality Development of the steel Industry" clearly defines the goals and paths for achieving high-quality development of the steel industry, and puts forward that by 2025, the R&D investment intensity of the steel industry will reach 1.5%. These policies have promoted technological innovation and green transformation in the steel industry.

Technological innovation and independent development

Entering the 21st century, during the "Tenth Five-Year Plan" and "Eleventh Five-Year Plan" period, the technological progress of China's steel industry has made breakthrough progress, mainly manifested in the source of technological progress has changed to independent design, independent manufacturing, independent integration, independent innovation. China steel manufacturer has established the world's largest and most advanced modern steel production system, with more than 95 percent of the main process equipment being domestically produced.

Green transformation and sustainable development

Faced with the severe challenge of global climate change, China's steel industry is committed to achieving green and low-carbon transformation. China steelmakers are changing the overall face of the steel industry and are confident that the steel industry can achieve the goal of low-carbon transition.

The rise of China's steel industry has not only provided a solid foundation for China steel manufacturer's economic development, but also made important contributions to the development of the global steel industry. Looking ahead, China steel manufacturers will continue to play a leading role in technological innovation, green development and international cooperation, contributing China wisdom and China strength to the realization of global sustainable development.