Recently, the Ministry of Industry and Information Technology clearly stated in its interpretation of the "Twelfth Five-Year Development Plan for the Iron and Steel Industry" that it encourages foreign top steel companies to invest in domestic steel companies. Industry experts said that this policy is good news for China's steel industry, which is conducive to improving the technical content and profitability of China's steel industry. The Ministry of Industry and Information Technology said in the interpretation document that we must dare to attract foreign top steel companies to invest in domestic steel companies and attract them to participate in major projects to rapidly improve our management and development capabilities. In this regard, Feng Bingwen, secretary-general of the Guangdong Iron and Steel Association, said that the current state supports energy conservation and emission reduction. If foreign investors participate in Chinese steel companies, bringing in good technology will help steel companies achieve energy conservation and emission reduction targets. In addition, some foreign steel groups have overseas high-quality mines. At present, China's iron ore dependence is as high as 65%. Attracting foreign shares is beneficial to safeguard resources. In addition, foreign equity participation is also conducive to the industrial upgrading of the steel industry; and it is possible to promote the restructuring of the steel sector, and it is more likely to be reorganized for those large steel companies with strength and those steel companies that need comprehensive reform. However, it will be a long and complicated process to look at its supporting measures after the introduction of the policy.
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