Steel export might largely drop in 2nd half

时间：2007-08-10 00:45:59

（单词翻译:单击）

Chinanews, Beijing, Aug 9 – Chinese government has taken a series of measures to restrict the rapid growth of steel production. “The measures will start to take effect in the latter half of the year. By then, the export of Chinese rolled steel will fall on a large scale,” a person at the China Iron and Steel Association (CISA) said in an interview given in Beijing on Tuesday.

 

Since the beginning of this year, trade frictions1 in steel industry have occurred frequently between China and US. During the first six months of the year, the United States filed three lawsuits2 against China in regard to steel production. On July 30, four US organizations, including the American Iron and Steel Institute and the American Iron and Steel Industry Association, jointly3 issued a report about Chinese iron and steel industry. The report says that over the past ten years, Chinese iron and steel companies have received over 52 billion US dollars of subsidy4 from the government, which has enabled Chinese iron and steel companies to gain big advantage over US steel companies in international steel market. The subsidy has led to many trade frictions between China and US. At present, the United States has become China's third largest iron and steel export market. In 2006, Chinese steel export to US hit a record high point.

 

In responding to the report, CISA said the report was “absolutely groundless” and full of “misleading information.” During the first half of the year, China's fixed5 assets investment in steel industry reached 125.2 billion yuan, increasing by 8.4% compared with the same period of last year. 82% of the investment fund came from steel companies and the rest of the fund was collected through bank loans and foreign investment.

 

The increasing demand for rolled steel in global market and the rising price of steel mainly has contributed to China's large steel export. During the past year, US imported a large amount of rolled steel from China. The main reason was that rolled steel made in the US did not have much competitive edge in the market. In addition, as demand for steel increased in the US market, the steel price kept climbing in US. According to information released by the International Iron and Steel Association, from 2002 to 2006, demand for steel increased by 7% on average a year in global market. In 2007, demand for steel will grow by 5.9%.

 

The fast development of Chinese steel industry is the result of China's opening-up policy carried out in China for almost 30 years. Such development has not been pushed by the so-called “governmental subsidies6.’ The conduct of American steel producers only demonstrates that their understanding of Chinese government and Chinese steel industry is highly biased7, said a person in charge at the China Chamber8 of Commerce of Metals, Minerals and Chemicals Importers and Exporters.

 
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1 frictions c3b12b9aeb795425cb3a97ab92bf2232     
n.摩擦( friction的名词复数 )；摩擦力；冲突；不和
参考例句：
  • Family frictions can interfere with a child's schoolwork. 家庭中的争吵会影响孩子的学业。 来自《简明英汉词典》
  • As far as we are concerned, these frictions are not of our own making [have been imposed on us]. 就我们来说，这种摩擦是被动式的。 来自《现代汉英综合大词典》
2 lawsuits 1878e62a5ca1482cc4ae9e93dcf74d69     
n.诉讼( lawsuit的名词复数 )
参考例句：
  • Lawsuits involving property rights and farming and grazing rights increased markedly. 涉及财产权，耕作与放牧权的诉讼案件显著地增加。 来自辞典例句
  • I've lost and won more lawsuits than any man in England. 全英国的人算我官司打得最多，赢的也多，输的也多。 来自辞典例句
3 jointly jp9zvS     
ad.联合地，共同地
参考例句：
  • Tenants are jointly and severally liable for payment of the rent. 租金由承租人共同且分别承担。
  • She owns the house jointly with her husband. 她和丈夫共同拥有这所房子。
4 subsidy 2U5zo     
n.补助金，津贴
参考例句：
  • The university will receive a subsidy for research in artificial intelligence.那个大学将得到一笔人工智能研究的补助费。
  • The living subsidy for senior expert's family is included in the remuneration.报酬已包含高级专家家人的生活补贴。
5 fixed JsKzzj     
adj.固定的，不变的，准备好的；(计算机)固定的
参考例句：
  • Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
  • Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。
6 subsidies 84c7dc8329c19e43d3437248757e572c     
n.补贴，津贴，补助金( subsidy的名词复数 )
参考例句：
  • European agriculture ministers failed to break the deadlock over farm subsidies. 欧洲各国农业部长在农业补贴问题上未能打破僵局。
  • Agricultural subsidies absorb about half the EU's income. 农业补贴占去了欧盟收入的大约一半。 来自《简明英汉词典》
7 biased vyGzSn     
a.有偏见的
参考例句：
  • a school biased towards music and art 一所偏重音乐和艺术的学校
  • The Methods: They employed were heavily biased in the gentry's favour. 他们采用的方法严重偏袒中上阶级。
8 chamber wnky9     
n.房间，寝室；会议厅；议院；会所
参考例句：
  • For many,the dentist's surgery remains a torture chamber.对许多人来说，牙医的治疗室一直是间受刑室。
  • The chamber was ablaze with light.会议厅里灯火辉煌。

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