Miao Wei, Chinese Minister of Industry and Information Technology, has stated at the 2018 China Development Forum in Beijing that China expects to achieve its crude steel capacity elimination target of 100-150 million mt for the 2016-20 period within the current year. Mr. Miao stated that China has eliminated 120 million mt of crude steel capacity over the past two years and that it plans to eliminate a further 30 million mt of crude steel capacity in 2018, with the result that the target will be achieved ahead of schedule.