BERLIN, Nov. 30 -- China called for more global cooperation in addressing the steel overcapacity across the world on Thursday at the ministerial meeting of Global Forum on Steel Excess Capacity held in Berlin.
"Steel overcapacity is a common challenge facing countries across the world, rather than a problem unique to one country," Li Chenggang, Assistant Commerce Minister of China, told a press conference following the meeting.
He said the Chinese government has taken measures in recent years to push forward the supply-side structural reform in the steel sector and successfully reduced excess capacity by over 100 million tons since 2016.
According to information shared among members of the Global Forum on Steel Excess Capacity, from 2017 to 2016, China's capacity reduction is more than 120 percent of the total cut of the rest of the world.
All the cuts cost China a hefty price. Alone in 2016, 201,000 steel workers were relocated in China, which is greater than the respective numbers of steel jobs in the U.S. and Japan.
Li emphasized, China takes the lead in eliminating steel overcapacity with self-aware, proactive, determined and persistent actions, making key contributions to the development of the global steel industry.
But China doesn't want to be the only one that is making painful efforts, "while the rest of the world just watches", he said.
China welcomes the consensuses forged at the Forum and hopes that moving forward, the members will further strengthen information sharing and cooperation to steer the steel industry, Li said.
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