On 18 April, the High-Level Symposium on Excess Capacity and Structural Adjustment in the Steel Sector, co-organized by the Belgian government and the Organization for Economic Cooperation and Development (hereinafter referred to as OECD) Steel Committee, was held in Brussels. The event was joined by delegations from 25 OECD Steel Committee members and 9 invitees of the Belgian government. Zhang Ji, Chinese Assistant Minister of Commerce, led a government delegation to the Symposium.

Kris Peeters, Belgian Deputy Prime Minister and Mari Kiviniemi, OECD Deputy Secretary-General delivered opening remarks. Davignon, former European Commissioner for Industrial Affairs and Energy, recall the experiences and lessons of the European Economic Community in tackling overcapacity in the 1980s. At a closed session, senior government representatives of related economies had an open discussion on the causes, nature and solutions to the excess capacity. In his remarks at the Symposium, Assistant Minister Zhang Ji talked of the determination of the Chinese government and the measures and actions it has taken in tackling steel overcapacity and restructuring, as well as the positive effects those actions produced. His remarks were spoken of highly by other participants.

Zhang Ji said participants to the Symposium have an open, in-depth and balanced discussion on excess capacity and structural adjustment in the steel sector, which increases mutual understanding. They reached some important consensus that the root cause for excess capacity is global economic downturn and demand contraction. They all agreed that this is a global challenge that calls for effective actions and the leading role of market forces, and for more information exchange. China is not a member of the OECD. Yet as a large steel producer, consumer, and raw materials importer and trader, China joins the discussion in a responsible, open, inclusive and cooperative manner, and has in-depth and extensive exchanges with other participants on excess capacity and structural adjustment in the steel sector. We are pleased to see that China’s position and proposals were widely echoed among the participants. Many of our positive statements were also incorporated into the co-chairs’ summary remarks. The Chinese delegation thanked the Belgian government and the OECD for the preparations of the Symposium. China reaffirmed that it is willing to strengthen communication, exchanges and cooperation with other participants and ready to learn and share the experience and practices in reducing excess capacity in the steel sector.