At present, the fundamentals of China's economic and social development are generally good and long-term trends are also good. The comprehensive advantages of production factors and institutional mechanisms are very obvious. Industrial development has a vast space and huge potential. However, some prominent problems such as the unbalanced and inadequate development of China’s industry have not yet been fundamentally resolved. 

In the face of the profound changes brought about by the new industrial revolution, we are in accordance with the overall requirements and strategic arrangements of the Party's Nineteenth Congress report, deepening structural reforms on the supply side, intensifying the deep integration of industrialization and informatization, and accelerating the improvement of the quality and efficiency of the manufacturing industry. The optimization of industrial structure, the transformation of development methods, the transformation of growth momentum, etc., promote the improvement of the total factor efficiency of the whole society, and realize the transformation of economic development from the expansion of quantity and scale to the improvement of quality and efficiency.

The steel industry is a key area for "three visits, one drop and one supplement," and our efforts to eliminate capacity in the steel industry is an important aspect of high quality development.