New rules will curb China's steel exports

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New rules will curb China's steel exports
Photo: Chinatopix Via AP/TT

China will introduce a licensing system for steel exports starting January 1, according to the country's Ministry of Commerce. The introduction is being done to curb the country's record exports of steel products.

Exporters will need to apply for permits to export a range of steel products after the end of the year. The ministry has not given any reason for the curb on exports.

The department has also presented a list of 300 specific steel products that will be covered by the new rules, including certain types of hot-rolled and stainless steel.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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