PROMOTION OF DEVELOPMENT OF CHINESE IRON & STEEL INDUSTRY IN THE WAY OF EXPLOITING IRON ORE RESOURCES FROM HOME AND ABROAD

To promote the development of iron & steel industry,both home and abroad iron ore resources must be exploited.The Chinese iron ore consumers must participate in annual negotiation about iron ore price.They must be aware of quality of imported iron ore and buy appropriate quality iron ore.The iron ore from oversea Chinese-foreign joint venture mines must take 50% of imported iron ore.The purchasers of imported ore should have their own ship fleet or a joint-venture ocean-going vessel team.