China's Ministry of Industry and Information Technology (MIIT) has stated at a work conference on national industry and information technology held on December 22 in Beijing that China's overall value-added industrial output is expected to increase by 8.3 percent year on year in 2014, while energy consumption and water consumption per unit of industrial production are expected to decline by seven percent and 5.8 percent year on year, respectively.
In the current year up to the end of November, China eliminated 27.90 million mt of outdated steel production capacity, in line with the target.
Meanwhile, in early 2015 the MIIT will issue its policies for the upgrading of traditional industries for the 2015-2025 period, and will also issue its transformation and upgrading plan for the steel industry for this period.