At China Steel Corporation's (CSC) shareholder meeting, Chairman Chien-Chih Hwang said that developing advanced steel products is important due to global steel oversupply. He pointed out that China produces 1 billion of the world's 1.8 billion tons of steel annually, with new demand appearing in sectors such as new energy vehicles, despite its slowing property market.

In spite of a currently subdued Chinese steel market, economic measures like consumer goods trade-ins and fiscal responses to trade tensions are aimed at stimulating growth. Hwang noted China's export of 100 million tons of steel last year posed a significant challenge for CSC due to low-price competition.

CSC currently sells around 300,000 tons of steel to China annually, primarily for specialized applications with good pricing and profits. Hwang stressed that as China's manufacturing capabilities advance, upgrading to advanced steel prod-ucts is the way forward for CSC to cope with fierce global competition.