Background

China's iron and steel industry started in 1890, but its annual steel output was merely 158,000 tons by 1949. The founding of New China emancipated the productive force, and its annual steel output, therefore, reached 5.35 million tons by 1957. Since China implemented the reform and opening policy, its iron and steel industry has witnessed rapid development. By 1989, the national output of steel exceeded 60 million tons. In 1996, China's annual steel output was 101 million tons. This is an important milestone in the process of China's industrialization, indicating that China's comprehensive economic strength has moved up to a new stage.

Along with the increase in quantity, the mix and product quality of China's iron and steel industry have also improved constantly, providing a large quantity of steel varieties crucial to the development of the national economy.

China's iron and steel industry, on the basis of maintaining a proper growth in quantity, will be able to better satisfy the needs for the sustainable, rapid and healthy development of the national economy.

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