U.S. report calls for punishment of China's "illegal" subsidies to the steel industry.

<P>: Http://finance. News, today released a report U.S. industry in the past 10 years, China's steel industry has been over 520 billion dollars in government subsidies, and promote China's steel production, and let .China's domestic steel consumption business enterprises in other countries over the world have an unfair advantage. .</ P> <P> The report said China's steel industry has become the first in the world, but without the central and local government financial transfers "extensive influence", the Chinese steel industry will not grow so fast ., and some allegedly in violation of fiscal transfers the World Trade Organization (WTO) rules. .</ P> <P> to the report, these subsidies are in large part because the 20 largest steel companies (91% of total production) is a state-owned enterprises. .</ P> <P> financial transfer payment in the form of "diversity", including a capital injection of 18.6 billion dollars, 173 billion U.S. dollars of preferential loans and 51 billion dollars in land rent subsidies. .</ P> <P> American Iron and Steel Association (American Iron and Steel Institute) was commissioned to develop the report, one of two U.S. industry trade group. .The Association of Xixia Ji (Andrew Sharkey) said, "no evidence" that the Chinese government on the domestic steel industry is the degree of financial transfers to slow down. .</ P> <P> According to the report, unless the Chinese government to end its financial support for national steel industry policy, otherwise, the United States and other countries should "intensify efforts" to implement penalties on China, because China is in violation of WTO .rules. .</ P> <P> February of this year, the United States and other countries have accused the Chinese Government on many products to the domestic manufacturers to provide "illegal" subsidies, and try to use WTO procedures to stop the Chinese government's approach. .</ P> <P> It is estimated that the steel industry, iron and steel this year China's net exports (exports minus imports) may be as high as 50 million tons, well above last year's 3,500 tons. .</ P> <P> According to the report, said that although China's steel exports to the United States is relatively small, but rising fast. .The report also said that unfair steel subsidies depress the price of steel in China, giving Chinese exporters an unfair financial advantage. .</ P>.