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Sizable output needed from steel and cement plants ¨C Mr Zou Xiaochuan¡ªThe 19th China(Guangzhou)Int¡¯l Heat Treatment, Industrial Furnace Exhibition
10/19/2017 heat treatment expo-furnace expo |
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The Standard reported that Mr Zhou Xiaochuan head of China¡¯s central bank as saying that China is trying to cut excess capacity in its steel and cement industries by 10% but that China requires a sizable output in those areas to support an infrastructure construction program.
The Trump administration has been pushing China to reduce production in such areas as steel, saying its overcapacity has depressed global prices for steel and hurt American producers.
Mr Haruhiko Kuroda head of the Bank of Japan, said that his country¡¯s economy was expanding moderately and that heightened global political risks so far haven¡¯t destabilized financial markets. He did not say what risks he was referring to, but investors have been focusing on the standoff with North Korea over its increased missile tests and development of nuclear weapons.
The officials spoke before the Group of 30, an international body of bankers and academics.
Mr Gary Cohn, who leads President Donald Trump¡¯s National Economic Council, spoke on a separate panel about the administration¡¯s efforts to scale back some of the tighter rules imposed on the U.S. financial sector after the 2008 crisis. In particular, he reiterated that the administration supported easing restrictions on smaller banks.
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