Chinese Ambassador: China and Britain Should Collaborate to Solve Steel Crisis | |||||||||||
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//english.dbw.cn 2016-04-12 10:10:12 |
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![]() A photo taken shows an article, written by Chinese Ambassador to the UK Liu Xiaoming, published on Britain's Daily Telegraph. [Photo: CRIENGLISH.com/Duan Xuelian] Chinese Ambassador to the UK Liu Xiaoming has called on the two countries to work together to solve the current difficulties faced by their steel industries. Liu published an article after some politicians in Britain blamed China for the closures and layoffs suffered by British steel industry, accusing China of "dumping" steel in Britain. He pointed out that China's steel exports to Britain were not to be blamed since steel imports from China made up only a fraction of the UK's total steel imports. In 2015, of the UK's 6.7 million tons of imported steel, 11 percent came from China. This amounted to around 450 million U.S. dollars, only 7.6 percent of total British steel imports. The ambassador added that steel products from China were mostly low value-added, which Britain no longer produced and would have to import from other countries anyway. Liu said by importing steel from China, the auto, machinery, construction and other British industries have effectively lowered their costs and increased their profit margin. Liu stressed that steelmakers in China are facing a more serious challenge to reduce steel capacity, which will result in several million lay-offs and relocations of steelworkers, far outnumbering those in the UK. In a related development, the European Court ruled in favor of a Chinese steel manufacturer embroiled in an anti-dumping investigation. In its ruling on April 7, the European Court ruled that the European Commission's anti-dumping investigations into Hubei Xinyegang Steel Co. were insufficient and so its ensuing trade remedy measures were illegal. In response, China's ministry of commerce has called on the EU to follow World Trade Organization rules and avoid such violations in the future.
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Author: Source:CRI Editor:Yang Fan |