Innovation key to strengthening steel industry, says expert

Innovation is a fundamental condition for China's steel industry to achieve high-quality development during the 14th Five-Year Plan(2021-25) period and beyond, according to a senior industry expert.

Li Xinchuang, Party chief of the China Metallurgical Industry Planning and Research Institute, said Saturday at a forum on advanced steel technology organized by the institute that Chinese steel companies must thoroughly implement the spirit of the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China, and further innovation-driven development and improvement in performance.

The communique of the session has stressed innovation, saying innovation should play a key role in China's modernization, with technological independence strategically supporting the country's development.

He suggested improving the industry's scientific research system and incentive mechanism, promoting the integration of internal resources of steel enterprises for scientific and technological innovation, accelerating cultivation of talents, and giving full play to the role of industry technology think tanks, to enhance the industry's development.