Over the past five years, facing downward economic pressures, China's decision-making departments have implemented proactive macroeconomic policies with remarkable results. In 2024, compared to 2020, the added value of industrial enterprises above designated size, manufacturing output value, etc., have all increased. The output of many steel-consuming products has seen double-digit or even multi-fold growth. 

Fixed-asset investment has grown year after year. Despite a significant decline in real estate development investment, the overall investment still increased by 11.5% in 2024 from 2020. China's steel exports have been robust, with the export volume in 2024 rising by 106% compared to 2020. 

In the first five months of this year, the "three engines" (industrial growth, fixed-asset investment, and steel exports) have continued to drive forward, and the structural growth trend of steel demand in China has been favorable.