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Ministry of Industry and Information Technology Sets Tone for Steel Industry's New Development Phase: Shift from Scale Expansion to Value Creation Becomes Core Focus
Recently, Li Lecheng, Party Secretary and Minister of the Ministry of Industry and Information Technology (MIIT), published an authoritative article in the journal New Industrialization, outlining the future development path for China's industrial sector. The article explicitly states that with China's population growth reaching a turning point, the scale of traditional industries such as steel and cement has peaked. This signifies that the scale expansion model reliant on “low prices and high volume” has officially become a thing of the past, making industrial transformation and upgrading an urgent priority.
The article profoundly observes that China's overall industrial production scale now ranks among the world's highest, with output of certain basic products accounting for 60-70% of global totals. Against this grand backdrop, traditional development paths are no longer viable. We must resolutely shift to a new competitive track—one where excellence drives leadership and quality secures victory. Efforts must focus on enhancing the quality and efficiency of the manufacturing supply system, creating and leading new market demand through high-quality products and services.
For the steel foreign trade industry, this shift signifies a fundamental change in the logic of competition. Future development opportunities will no longer stem from simple output growth, but rather from aligning with the trends of high-end, intelligent, and green development, achieving a leap from “quantity” to “quality.” Enterprises need to lead product innovation through continuous technological investment, leverage digital technology to empower production management and supply chain coordination, and build brand credibility on a solid foundation of quality.
Specifically, corporate development strategies should prioritize extending into both ends of the “smile curve.” This entails striving to ascend the upstream of the industrial chain by strengthening core technology R&D and personalized solution design capabilities. Simultaneously, enterprises must expand into downstream service and brand value segments, enhancing product value-added through exceptional service, profound cultural resonance, and robust brand influence. This approach will secure more advantageous positions within the global steel trade value chain.
In summary, the Ministry of Industry and Information Technology's recent assessment has established a clear new starting line for the steel and related foreign trade industries. With scale growth reaching its peak, a new blue ocean centered on value creation awaits exploration. For every industry participant, this represents both an unprecedented challenge and a strategic opportunity for leapfrog development. Only by proactively embracing change can we forge new paths amid transformation and gain the initiative in future global competition.
Steel industry,transformation and upgrading,Steel trade
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