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"Deleveraging moves and other restructuring policies, although necessary for long-term economic development, have led to short-term pain as they accelerated the knocking out of weaker players in the market."

"Everything, from where the money comes from to how it is used, is accounted for. So there is no such thing as 'hidden' military spending."

"Deeper reforms on value added tax, commencing on April 1, will further relieve the pressure on small businesses and boost economic activity," Ng said.

"Declining car sales may speed up the process of squeezing out the incompetent players and we may see some of them exit the market," said Cui.

"Environmental protection in the iron and steel industry has made positive progress in the past decade, and emissions of pollutants such as sulfur dioxide and particulate matters from per metric ton of steel production have dropped by more than 60 percent," said Li Xinchuang, president of the China Metallurgical Industry Planning& Research Institute. He made the comments at the 2018 China Iron & Steel Energy Saving and Emission Reduction Forum in Beijing on Saturday.