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China slashed its crude steel production capacity by more than 50 million tons in 2017, exceeding its annual target, as part of efforts to improve the competitiveness of the bloated sector.

China on Thursday took strong exception to recent reports in the United States that pointed fingers at its membership in the World Trade Organization and said such claims are not only false but also ignore the fact that the country is an open and market-oriented economy.

China started to mediate on the Korean nuclear issue and host talks in 2003, at the United States' sincere request. As a developing country, China upholds its five principles of peaceful coexistence. On the Korean nuclear issue, which has a direct bearing over regional security, China's position is to strongly oppose nuclear proliferation. Upon taking up its role as a mediator, China firmly requested the Democratic People's Republic of Korea (DPRK, commonly referred to as North Korea) to stop its nuclear weapons development while requesting other concerned parties, especially the U.S., to address the DPRK's legitimate security concerns. But the deep mistrust between the U.S. and the DPRK made it very hard for any consensus or agreement made during the years of negotiations to be effectively implemented.

China urged restraint and dialogue

China significantly ramped up imports of liquefied natural gas in the first half of the year, as part of broader efforts to clean up its coal-dominated energy mix.