Steel Sector to Play a Role in Stimulating Domestic Demand

Write: Dara [2011-05-20]

A veteran economist said China will gradually revoke export rebates for more products from the steel, nonferrous metal, chemical and paper industries in the next five years and try to make them a major contributor to boosting domestic demand.
He believed what mostly worries the government has been the structurally imbalanced economic pattern, rather than the danger of inflation, because the growing structural discord has potential to evolve a blend of fiscal and financial risks.
Beijing has moved to deal with the problem, and local authorities have echoed by taking a set of measures to reverse the prodigal use of energy and reduce pollution. Next year will witness the strengthening of their concerted efforts. The source said one of the major goals behind the Twelfth Five-Year Plan is to realize the synchronized progress in both resident incomes and economic growth.