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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Beijing, October 31 (Xinhua) — China's steel industry demonstrated optimization and upgrading of its product structure during the 14th Five-Year Plan period (2021-2025), facilitating the expansion of high-tech steel use in automobiles, home appliances, infrastructure, and construction, the China Iron and Steel Association reported on Friday.
According to Jiang Wei, deputy chairman of the association, the share of steel used in the manufacturing sector increased from 42 percent in 2020 to 50 percent in 2024, and this figure is expected to exceed 50 percent in 2025.
He also clarified that the share of steel use in the construction sector decreased from 58 percent in 2020 to 50 percent in 2024.
According to him, the past five years have seen an acceleration in the pace of research in high-tech steel production. For example, silicon steel production, one of the most representative high-end products, reached 18 million tons in 2024, a 48 percent increase compared to 2020.
The shift of China's economy toward high-quality and greener growth is driving demand for advanced and environmentally friendly steel products and creating ample space and promising prospects for industry upgrading, Jiang Wei explained.
Looking ahead, Jiang Wei said China will step up efforts to promote research and development initiatives for high-tech and advanced steel products and expand the application of steel materials in various industries. –0–
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