The entry of the Chinese economy into the new normal means that the objective environment in which China's manufacturing industry is located has undergone substantial changes. The improvement of internal economic development requirements and the intensification of the external competitive environment have jointly induced new reforms in the Chinese economy and provided many positive elements for the orderly implementation of the new reforms. Manufacturing reform is in line with the inevitable requirements of the new normal of China's economy, and is also an objective result of the Chinese economy's pursuit of high quality development. The reform of China's manufacturing industry will comprehensively introduce the factors of technological progress, while paying more attention to the new requirements of consumer demand for manufacturing, and on this basis, improve the overall technological level and production quality of the manufacturing industry.

There is a close relationship between the development of the steel industry and China's industrialization process. In the past 40 years of reform and opening up, the development of China's steel industry has not only shown a simple increase in output, but also reflects the simultaneous growth of related technology content, and correspondingly promotes the diversification and quality development of steel products. It should be said that this is one of the important achievements of the Chinese steel industry in the development process since the reform and opening up, and it has also created important guarantee conditions for the rapid development and quality improvement of the Chinese economy.

Of course, the problem that should be faced directly is that compared with developed countries such as the United States, European countries, and Japan, the development level of China's steel industry still needs to be improved. The main problems are as follows. 

First, some technologies in China's steel industry need to be improved or improved to adapt to new economic conditions and market competition. 

Second, Chinese steel companies have low industrial concentration and do not have economies of scale, which limits to a certain extent. The competitiveness of China's steel enterprises; 

Third, the energy conservation and environmental protection level of China's steel industry needs to be further improved. 

In view of this, some domestic scholars pointed out that evaluation of the profit of the steel industry should fully consider the social cost of the industry and make reasonable deductions. At the same time, in the industrial development strategy, it should highlight the cultivation of low-cost advantages, develop green steel and save steel. To improve the ability to control the cost of imported resources. 

At present, the Chinese steel industry has initiated an important process of structural transformation in the process of continuous development and expansion. At the same time, the transformation and development of the steel industry has also become the leading and representative of the overall structural transformation of China's manufacturing industry.