China's Ministry of Commerce (MOFCOM) said on Friday that China is strongly dissatisfied with and firmly opposes Canadian government's tightening of restrictions on steel imports. The remarks are made as comments after the Department of Finance Canada on July 16,

OTTAWA — Prime Minister Mark Carney announced his government is significantly restricting foreign imports of steel — Chinese ones in particular. He also said he was increasing spending on subsidies for Canada’s domestic industries and workers affected by U.S. President Donald Trump’s tariffs.

China racked up record steel exports in the second quarter, as flows from the world’s top producer defied expectations for volumes to fade under a barrage of trade measures from Asia to Europe.

All eyes will be on how gathered leaders address hyper-competition in industries including solar and lithium batteries, EVs and e-commerce.

Steel and coal-to-chemical industries have been migrating towards energy-rich western, central and southern China.

China's industrial output and commodity import data for June has thrown up contrasting numbers that add to the challenge of getting an accurate reading on the state of the world's second-biggest economy.

China made further headway in June in its bid to tackle oversupply of key industrial commodities, with crude steel production leading declines in construction materials with its biggest drop in 10 months.