Over the past decade, China has adhered to the supply side structural reform as the main line, promoted the digital transformation of manufacturing industry, promoted the green and low-carbon development of industry, accelerated the development of emerging industries, eliminated backwardness and resolved excess capacity, and have made remarkable achievements in eliminating backward and overcapacity, said Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, on June 14.

 

The iron and steel industry completed the target of reducing production capacity by 150 million tons during the 13th Five-Year plan two years ahead of schedule, and 140 million tons of "unqualified bars" have been fully cleared. The backward production capacity of electrolytic aluminum, cement and other industries has been basically eliminated. The digitalization level of the manufacturing industry has been significantly improved.