China discourages massive steel exports

China has always discouraged massive exports of steel products, a commerce official said on Tuesday.

As a major player in the global steel sector, China is keen to see a stable market, and has cut export tax rebates and levied higher tariffs to discourage steel exports and excess production, Shen Danyang, spokesperson for the Ministry of Commerce, said at a briefing.

Due to its efforts, China's steel exports grew at a mild rate of 6.4 percent during the first five months of the year, sharply down from the nearly 30-percent growth rate seen in the same period last year.

This shows that China has done its part to ensure a stable steel market, Shen said.

China's steel products were highly competitive, not only boosting the economic development of countries that import them, but also bringing real benefits to downstream users and consumers, he added.

Shen pointed out that China's iron ore imports also increased along with a rise in steel exports. Data showed that China's iron ore imports grew 9.1 percent during the January-May period.

As trade protectionism can only further disrupt the order of international trade, the Chinese government believes that negotiation and cooperation are key to solving steel trade frictions, Shen said. Endi