The most popular supply side structural reform of

2022-08-01
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The supply side structural reform of China's copper, lead and zinc industry has achieved remarkable results. Since the 18th National Congress of the Communist Party of China in november2012, the copper, lead and zinc industry has fully implemented the spirit of the 18th National Congress of the Communist Party of China, the third, fourth, fifth and sixth plenary sessions of the 18th Central Committee of the Communist Party of China and the central economic work conference. In accordance with the "five in one" overall layout and the "four comprehensive" strategic layout, it has firmly established and implemented the development concept of "innovation, coordination, green, openness and sharing", continuously promoted the supply side structural reform, and is adjusting the structure, promoting transformation Good achievements have been made in increasing efficiency, which has made due contributions to the realization of the grand goal of building a moderately prosperous society in all respects

Since the 18th National Congress of the Communist Party of China, the "old and new normal" of China's copper, lead and zinc industry has changed significantly. From 2012 to 2014, the number of Enterprises above Designated Size still increased rapidly, the supply surplus gradually appeared and became increasingly prominent in the lead-zinc industry, and the economic and environmental benefits continued to deteriorate; Since the central economic work conference comprehensively explained the "new normal" of China's economy in december2014, remarkable results have been achieved in adjusting structure, promoting transformation and increasing benefits

the concentration of copper, lead and zinc mining (mining and beneficiation) has been significantly improved, and the benefits have been greatly improved. In 2012, there were 306 state-owned copper mining and dressing Enterprises above Designated Size (hereinafter referred to as "enterprises", the same below), with total assets of 81.547 billion yuan, and realized main business income of 69.687 billion yuan and profit of 10.023 billion yuan. It has promoted the continuous and healthy development of the synthetic leather industry in Wenzhou. Over the past four years, there have been 322 enterprises with total assets of 90.827 billion yuan, and achieved main business income of 73.621 billion yuan and profit of 9.051 billion yuan. From 2012 to 2014, China's copper mining and beneficiation industry experienced a painful development stage of "three increases and one decrease" (the number of enterprises, total assets, the increase of main business income and the decline of profits). By 2016, 274 enterprises had been restructured (48 less than that in 2014), with total assets of 103.95 billion yuan. Statistics show that from January to June 2017, 256 enterprises achieved a main business income of 30.703 billion yuan, a year-on-year increase of 22.97% (the same as 2016, the same below), and a profit of 3.36 billion yuan, a year-on-year increase of 183.47%

in 2012, there were 604 lead-zinc mining and dressing Enterprises above Designated Size in China, with total assets of 95.61 billion yuan, and realized main business income of 130.912 billion yuan and profit of 18.678 billion yuan. By 2016, 457 enterprises had been restructured (147 fewer than that in 2012), with total assets of 111.298 billion yuan. From January to June 2017, 418 enterprises achieved a main business income of 59.658 billion yuan, a year-on-year increase of 20.05%, and a profit of 9.696 billion yuan, a year-on-year increase of 122.28%

the excess capacity of copper smelting is becoming more and more obvious, and the increase of profit is related to the measurement of force by sensors in the mining and beneficiation industry; There is a huge gap between high-precision dynamometers. In 2012, China had 298 copper smelting enterprises above Designated Size, with total assets of 392.912 billion yuan, and realized main business income of 721.264 billion yuan and profit of 23.597 billion yuan. By 2016, the number of enterprises has been adjusted and restructured to 209 (89 less than that in 2012), with a main business income of 850.587 billion yuan and a profit of 14.834 billion yuan. From January to June 2017, 203 enterprises achieved a main business income of 438.765 billion yuan, an increase of 11.76% year-on-year; The realized profit was RMB 6.976 billion, up 50.02% year-on-year, but far lower than the 183.47% of the copper mining and beneficiation industry, which to some extent indicates that the excess capacity of copper smelting is becoming more and more obvious

the supply side structural reform of lead-zinc smelting industry has achieved remarkable results. In 2012, there were 484 lead-zinc smelting enterprises above Designated Size in China, with total assets of 19.97 billion yuan and debt ratio of 76.9%, realizing main business income of 266.15 billion yuan and profit of 4.962 billion yuan

by 2016, 353 enterprises had been restructured (131 less than that in 2012), with total assets of 233.977 billion yuan; The main business income was 307.682 billion yuan and the profit was 7.959 billion yuan, a significant increase over 2012. From January to June 2017, the asset liability ratio of 337 enterprises has dropped to 70% (about 7 percentage points lower than that in 2012), achieving a main business income of 167.968 billion yuan, a year-on-year increase of 18.14%, and a profit of 3.765 billion yuan, a year-on-year increase of 58.77%

the copper calendering industry developed steadily, the profit margin of main businesses continued to decline, and deep-seated contradictions became prominent. In 2012, there were 1306 state-owned copper processing enterprises above Designated Size, with total assets of 319.874 billion yuan, realizing main business income of 847billion yuan, profit of 35.863 billion yuan, and main business profit margin of 4.23%. In 2014, there were 1365 enterprises with total assets of 373.568 billion yuan, realizing main business income of 969.275 billion yuan and profit of 35.224 billion yuan. The profit margin of main business decreased to 3.63%. By 2016, 1302 enterprises had achieved a main business income of 1007.145 billion yuan, a profit of 38.515 billion yuan, and a main business profit margin of 3.82%. From January to June 2017, 1252 enterprises achieved main business income of RMB 530.49 billion, a year-on-year increase of 16.27%, profit of RMB 16.254 billion, a year-on-year increase of 30.14%, but the profit margin of main business has dropped to 3.06%. The concentration of copper rolling processing industry is not high, and deep-seated contradictions such as excess primary processing capacity are prominent

the development of copper, lead and zinc industry has reached a new level and has the foundation to lead the development of world industrialization. Since the 18th National Congress of the Communist Party of China, China's copper, lead and zinc industry has made remarkable achievements in scientific and technological innovation, accelerated the pace of transformation and upgrading, and gradually deepened the integration of industrialization and industrialization. With independent intellectual property rights, large-diameter deep hole mining, safe and efficient mining and dressing of complex deposits, continuous converting of crude copper, controllable pressure leaching of refractory resources, efficient utilization of waste copper, continuous melting of lead paste from waste lead-acid batteries, organic solvent extraction of zinc and hydrometallurgy of zinc have reached the international leading level. Breakthroughs have been made in deep processing technologies such as high-performance electronic copper strip and foil, which provide important support for China's copper, lead and zinc industry to move towards the middle and high end. The advanced copper, lead and zinc smelting capacity accounts for 99%, 80% and 87% of the national total respectively, and the task of eliminating backward production capacity has been basically completed. The energy consumption of copper, lead and zinc smelting has reached the international advanced or leading level, the total emission of heavy metal pollutants has been declining, and green development has become an industry consensus. Computer simulation, intelligent control, big data and other technologies have been widely used in the production, management and service fields of copper, lead and zinc backbone enterprises. Important progress has been made in the digitalization and intelligent construction of large-scale open-pit mines and underground mines in China, and the integration level of the two industries has been continuously improved

copper, lead and zinc smelting has huge production capacity and strong industrial foundation. In 2015, the copper output was 7.969 million tons, ranking first in the world, accounting for 34.82% of the world's total output. Chile, Japan, the United States, Russia, India, the Democratic Republic of the Congo, Zambia, Germany and South Korea, ranking second to tenth, produced 9.719 million tons in total, and showed a catch-up trend. The output of lead is 4.422 million tons, ranking first in the world, accounting for 41.53% of the world's total output, which is nearly 1.1 times that of the United States, South Korea, India, Germany, Mexico, the United Kingdom, Canada, Japan and Australia, which rank second to tenth, with a total of 4.032 million tons; The output of zinc is 611.6 tons, ranking first in the world, accounting for 43.98% of the world's total output, which is 1.28 times that of South Korea, India, Canada, Japan, Spain, Australia, Peru, Mexico and Kazakhstan, ranking second to tenth in order, with a total of 4.796 million tons. According to the data released by the international copper research group and the lead zinc research group in March 2017, China's copper output in 2016 was 8.52 million tons, lead 4.66 million tons and zinc 6.27 million tons, all of which reached a record high, and its important position in the world was further enhanced

although the consumption of copper, lead and zinc in China has tended to be stable, it still ranks first in the world and accounts for about 40% of the total, which is difficult to change. China's copper consumption was 9.45 million tons in 2014, 9.85 million tons in 2015 and 10.1 million tons in 2016 published by the international copper research group (ICSG) in March 2017. In 2015, China's copper consumption was much higher than the 7.19 million tons of the United States, Germany, Japan, South Korea, Italy, India, Turkey and Brazil, which ranked second to tenth in the world, accounting for 42.76% of the world's total consumption. China's lead consumption was 4.9 million tons in 2014 and 4.7 million tons in 2015, a decrease of 60000 tons in 2016 compared with 2015, but still ranked first in the world. In 2015, China's lead consumption was much higher than that of the United States, South Korea, India, Germany, Japan, Brazil, Spain, Italy and the United Kingdom, which ranked second to tenth in the world, accounting for 44.14% of the world's total consumption. China's zinc consumption was 6.35 million tons in 2014, 6.5 million tons in 2015 and 6.72 million tons in 2016. In 2015, China's zinc consumption was much higher than the 4.23 million tons of the United States, India, South Korea, Japan, Germany, Belgium, Italy and Mexico, which ranked second to tenth in the world, accounting for 47.31% of the world's total consumption

the implementation of the "the Belt and Road" and the development and utilization of urban mines have laid a foundation for China to significantly improve the security of copper, lead and zinc resources. The countries along the "the Belt and Road" are rich in copper, lead and zinc resources. At present, there are many cooperation projects under negotiation with bright prospects. In 2015, China's mineral copper consumption was 1.6671 million tons, accounting for only 8.72% of the world's total output, but close to the consumption of 1.8 million tons of refined copper in the United States in the same year; 2.335 million tons of mineral lead, accounting for 51.47% of the world's total output; Mineral zinc is 4748900 tons, accounting for 35.27% of the world's total output. Copper and lead have excellent recycling characteristics, zinc is not difficult, and the industrialization technology of comprehensive recycling has been achieved and made a breakthrough in Xiangyun Feilong and other enterprises. According to the report on the development of China's renewable non-ferrous metals industry in 2015, the output of recycled copper was about 3.05 million tons, lead 1.5 million tons and zinc 1.37 million tons, all of which exceeded the consumption of copper, lead and zinc in the United States in the same year. From 1960 to 2015, China has consumed 110million tons of copper, 53.8 million tons of lead and 74.6 million tons of zinc, and has entered the fast lane of recycling. With the gradual transformation of China's economic development mode and the continuous improvement of the development and utilization level of urban mines, the recycling amount of copper, lead and zinc resources in China will be greatly increased and the degree of resource guarantee will be significantly improved

the international trade deficit of copper has narrowed, the export of copper processed products has increased, and the international competitiveness of the industry has been improved. In 2016, China's copper import trade volume was USD 53.1 billion, a year-on-year decrease of 6.98%, and its export was USD 5.18 billion, a year-on-year increase of 6.69%; It is characterized by an increase in the import of copper concentrate, a slight decrease in the net import of copper materials, and a slight increase in the net export of 31300 tons of copper metal products. From January to June 2017, China's copper import and export trade volume showed a high-speed growth trend and the growth rate was basically the same (imports increased by 12.83% year-on-year and exports increased by 10.91%), but the growth rate of copper exports was 4.18 percentage points higher than that of imports (imports increased by 4.25% year-on-year and exports increased by 8.43%)

the international trade of lead and zinc is mainly to meet the needs of domestic concentrate raw materials, and the international competitiveness of the industry is gradually declining. In 2016, China's lead import trade amounted to US $1.522 billion, a year-on-year decrease of 28.73%, and its export amounted to US $67million, a year-on-year decrease of 55.96%. The import trade volume of zinc was USD 2.411 billion, a year-on-year decrease of 30.11%, and the export was USD 229million, a year-on-year decrease of 38.51%. It is characterized by a "double decline" in the import of lead concentrate and the export of unwrought lead; The import of zinc concentrate increased significantly month on month, and the export volume of zinc materials increased. The net import of zinc metal products reversed from about 22400 tons in 2015 to 23300 tons of net export, and the net export of primary batteries increased by 2.44 times. From January to June 2017, the import value of lead was USD 968million, a year-on-year increase of 39.17%, and the export value was USD 34million, a year-on-year decrease of 22.16%; The import value of zinc was USD 1.843 billion, a year-on-year increase of 54.65%, and the export value was USD 85million, a year-on-year decrease of 36.75%

resolutely implement the five development concepts and strive to realize the transformation of copper, lead and zinc industry from large to strong

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