Xi Jinping responds to allegations of collapse of global steel market

The whole world and not only Great Britain is faced with the problem of overproduction of iron and steel and the global financial crisis is to blame, said Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, during a visit to London.

“China has taken a number of steps to reduce capacity. We have reduced more than 70 million tons of production capacity and now, as you understand, our task is to find a new place of work for the dismissed employees, ”Xi Jinping said during a joint press conference with British Prime Minister David Cameron.

The state visit of Chinese President Xi Jinping to the UK began on Tuesday, during this visit, agreements on economic cooperation worth almost 50 billion US dollars may be signed. The Chinese delegation accompanying the leader includes about 100 people and even more - businessmen.

It is already known that the British BP and the Chinese corporation Huadian signed an agreement on the supply of liquefied natural gas (LNG) to China in the amount of up to $ 10 billion. It also plans to sign a £ 24bn ($ 37bn) "nuclear" deal to build the first next-generation nuclear power plant in the UK.