'Two Sessions': NPC delegate urges steel capacity control to curb 'involution'

Zhao Minge, Chairperson of China’s major steel producer Shougang Group and a delegate to the National People’s Congress (NPC), has re-emphasized the capacity control as the top priority in tackling excessive competition -- or “involution” -- in the steel industry, while recommending the restoration of export tax rebates for premium steel products. He made the proposal during the ongoing “Two Sessions” political meetings in Beijing.

The NPC delegate believes that tackling steel industry "involution" starts with capacity control. "I hope it can help close the door to new capacity additions and facilitate the exit of inefficient capacity so that the steel industry can truly regain vitality," Zhao said in an interview with China Metallurgical News, a