Can CNY Internationalization Eliminate Overcapacity ofSteel? ——Research Based on Data Mining

DOI

10.2991/978-94-6463-108-1_88How to use a DOI?

Keywords

CNY Internationalization; Steel Overcapacity; Time Varying Parameter Vector Autoregressive Model

Abstract

In recent years, with the continuous improvement of China's comprehensive strength, the international circulation of CNY is accelerating day by day, and the internationalization of CNY is unstoppable. In this regard, this paper mainly discusses whether the internationalization of CNY can solve the problem of iron and steel overcapacity in China. The small /medium/large TVPVAR model and TVP-VAR-dma/DMS are used to predict and compare China's iron and steel demand respectively. TVP-VAR-dma can quickly adapt to various changes in China's economic structure and has high accuracy. Based on the IMF's prediction of GDP growth rate of various countries and the prediction tat China's steel production capacity will not increase, the results show that CNY internationalization can effectively resolve China's excess steel production capacity. In addition, in order to completely solve the problem of overcapacity in China's steel industry, the state should further expand the effective transformation of the steel industry under the background of CNY internationalization, strengthen the function of market resource allocation, and reduce the capacity expansion of low-end steel products.

Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Shizhen Hua
PY  - 2022
DA  - 2022/12/30
TI  - Can CNY Internationalization Eliminate Overcapacity ofSteel? ——Research Based on Data Mining
BT  - Proceedings of the 2022 International Conference on Computer Science, Information Engineering and Digital Economy (CSIEDE 2022)
PB  - Atlantis Press
SP  - 792
EP  - 799
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-108-1_88
DO  - 10.2991/978-94-6463-108-1_88
ID  - Hua2022
ER  -