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The impact of the “Belt and Road” policy on the steel pipe industry

Read:316     Author:admin     Publish Time: 25-03-2019

On August 27, 2018, General Secretary of the CPC Central Committee, President of the State, and Chairman of the Central Military Commission Xi Jinping attended the symposium on promoting the 5th anniversary of the construction of the Belt & Road” in the Great Hall of the People in Beijing and delivered an important speech. He stressed that the joint construction of the Belt and Roadcomplies with the inherent requirements of the reform of the global governance system.We must adhere to dialogue and consultation, build and share, cooperate and win-win, exchange mutual knowledge, seek cooperation with countries along the line, and promote countries to strengthen political mutual trust, economic integration, and humanities, and benefit the people along the line. In recent years, the domestic manufacturing industry has faced huge overcapacity and deflationary pressures. After the introduction of the ’’Belt & Road’’ policy, including Maan shan Iron and Steel Group and Jiugang Group, Shougang, Baotou Steel, Hebei Galvanized Steel Pipe Group, Bayi Galvanized Steel Pipe Group Many steel companies, including those, have already opened their own overseas layouts. Chinese steel companies have further goed out and sought new overseas growth, which has stimulated exports to some extent.

Since the launch of the “Belt and Road” initiative, the Chinese steel industry has made great achievements. From the infrastructure covering railways, ports, bridges, public safety facilities to industrial construction, humanities projects, there is a huge demand for steel. In 2017, China's enterprises signed 7,217 contracts for new contracted projects in 61 countries along the “Belt and Road”. The newly signed contracts amounted to US$144.32 billion, accounting for 54.4% of the newly signed contracts for foreign contracted projects in China during the same period, up 14.5% year-on-year. The completion of turnover of 85.53 billion US dollars, accounting for 50.7% of the total amount, involving power construction, housing construction, transportation construction, petrochemical, communications engineering and other fields, and steel pipes is an important material for these projects. 

 

The construction of “Belt and Road” will accelerate and promote the infrastructure construction of relevant countries. In the future, Wan Steel Group should optimize the export strategy of steel products, actively participate in the construction of overseas projects, and promote regional economic and trade cooperation. 

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