Study On Structure Adjustment Of China's Iron And Steel Industry

As an important basic industry of national economy, China's steel industry play a supporting role in the process of economic development and industrialization, and its healthy development is essential for the sustained and rapid development. At present, the problems of China's steel irrational industrial structure have directly affect the sustained and healthy development of steel industry. The main purpose and significance of the paper is to propose targeted measures and promote structural adjustment and optimization through in-depth study of China's steel industry structure problems and their root causes.By historical interpretation, comparison and analysis of induction and other methods, firstly the paper is combing the evolution of China's steel industry structure and the institutional and economic factors of promoting structural adjustment. Then it is digging the roots which result in China's irrational steel industrial structure by combining the inspiration from the comparison between China's and Japan's, China's and India's steel industry. Finally it puts forward some further countermeasures and suggestions based on the assessment of the content and effectiveness of the policy which is formulated and implemented by government departments to optimize China's steel industrial structure.As study found, the problems exist in China's steel industry, such as low market concentration, diseconomies of scale, product supply and demand structure contradiction and low technical efficiency, are mainly caused by Chinese governmental administration system and market circumstances, both of which constitute important barriers of adjustment and optimization for China's steel industrial structure. Therefore, to solve China's steel industry structure unreasonable problems, first of all, we have to sweep the institutional barriers of structural optimization by deepening the reform of governmental administration system. Second, we have to deepen the reform of market economic system, perfect the market mechanism, fully exert the function of market in resource allocation effectively, and guide steel enterprises and industry structure adjustment spontaneously. Third, to avoid enterprise production blindness and policy blindness caused by market information asymmetry, industry association can play important role in communicating and coordinating enterprise, market and government. In addition, financial institutions and capital market can play positive role in promoting the enterprise restructuring, controlling the repetitive construction and eliminating backward productivity, and guiding the structure optimization through different financing policies. Finally, domestic advantage steel enterprises can fully utilize overseas raw material resources, capital and market to develop themselves by "go out strategy", and promote the integration of steel industry in China.