Rising steel exports not result of government policies
By Gong Zhengzheng (China Daily)Updated: 2006-12-21 09:58 A senior Chinese trade official said yesterday that the nation's rocketing steel exports are a result of the bullish international market, rather than favourable government policies.
Ministry of Commerce, told a steel industry forum yesterday in Beijing.
The country's exports of finished steel products doubled year-on-year to 37.46 million tons in the first 11 months of 2006, according to data from the China Iron and Steel Association.
Full-year exports of steel products are forecast to reach 40 million tons, up 95 per cent from 2005.
Wang's remarks were in response to growing overseas anti-dumping or anti-subsidy charges against Chinese steel products.
Eleven foreign nations have launched 27 anti-dumping or anti-subsidy investigations against steel products from China worth US$900 million since its entry to the World Trade Organization at the end of 2001, he said.
"China has never offered any subsidies to domestic steel makers to boost steel exports," he stressed.
On the contrary, the nation has taken a slew of measures to curb its overseas steel shipments.
In September, China cut its tax rebate for steel exports from 11 to 8 per cent. This was followed in October by the imposition of a 10 per cent tariff on overseas shipments of billets, pig iron and ferroalloy.
Despite these actions, the nation's steel exports have been surging this year
thanks to strong international steel demand and international steel prices that
are much higher than on the domestic market.
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