The call for innovation came during a recent forum in Shandong province organized by institutions such as the China Metal Society and the China Metallurgical Industry Planning and Research Institute.
Faced with demand declines in the domestic and international market, the industry is going through a strong adjustment phase to control production and improve quality. The focus should be on science and technological innovation to promote high-quality development, move away from extensive growth and proactively boost overall productivity. Steel companies are encouraged to increase cost control, adhere to high standards and innovate through technological improvements to produce high-end products.
The sector needs to keep pace with the latest trends in the scientific and technological revolution, characterized by green development and digitalization. Strengthening scientific and technological innovation, researching breakthroughs and promoting coordination in innovation will contribute to the development of the country's manufacturing industry.
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