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China’s Technological Catch-Up StrategyIndustrial Development, Energy Efficiency, and CO2 Emissions$
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Michael T. Rock and Michael Toman

Print publication date: 2015

Print ISBN-13: 9780199385324

Published to Oxford Scholarship Online: January 2015

DOI: 10.1093/acprof:oso/9780199385324.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 November 2021

Saving Energy and CO2 in China’s Iron and Steel Industry

Saving Energy and CO2 in China’s Iron and Steel Industry

The Impact of Technological Modernization

(p.81) Chapter 5 Saving Energy and CO2 in China’s Iron and Steel Industry
China’s Technological Catch-Up Strategy

Michael T. Rock

Michael Toman

Oxford University Press

In 1978 China’s steel industry was small, technologically backward, and energy intensive. Over the next three decades China modernized this industry by closing small, obsolete facilities and encouraging mergers to reap economies of scale and scope; increasing domestic competition and opening the industry to trade and foreign investment; and increasing energy prices and requiring enterprises to reduce their energy intensity. Most critically, though, the Chinese government reformed incentives and institutions to encourage enterprises to adopt state-of-the-art technologies. One important side effect has been a large and rapid decline in energy and CO2 intensity in China’s steel industry, leading to a substantial delinking of steel production and CO2 emissions. This success has much to offer other countries in the early stages of their industrial revolutions. The Chinese experience highlights the need to put in place the incentives and institutions that encourage enterprises to invest in building technological capabilities.

Keywords:   steel industry, technological capabilities, energy efficiency, market liberalization, state-of-the-art technologies

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