Li Xin, deputy secretary-general of the China Iron and Steel Association (CISA), has stated that the domestic steel industry will operate under the following eight principles during the period of China's 12th five-year plan period (2011-2015):
1. Acceleration of the elimination of outdated capacities to control the rapid growth of the steel industry; 2. Optimization of product structure in order to strengthen the competitiveness of steel products; 3. Speeding up of the construction of coastal production bases in order to improve the geographical distribution of steel production capacities; 4. Boosting the integration of steel enterprises with the aim of increasing the concentration of the steel industry; 5. Acceleration of upgrades in technology and industry; 6. Implementation of the strategy of combining local and imported resources as well as local and foreign markets to achieve the unification of the world economy; 7. Establishment of a healthy and integrated industrial chain which would adapt to the requirements of development; 8. Fostering of a sustainable economy.