HANGZHOU, China—Since the 1950s, a set of smokestacks rising out of a north China desert represented the nation’s industrial muscle. Days before President Xi Jinping greets leaders of the world’s most powerful nations, workers began dismantling the blast-furnace.
The summit gives Mr. Xi a global stage to influence international policy, though only so far as he can convince Group of 20 leaders he is spearheading change at home. Ahead of the meeting, which starts Sunday in Hangzhou, China has announced several actions on markets, trade and investment that appear aimed at addressing, albeit in minor ways, foreign concerns about its economic policies.
Most of the measures are low-hanging fruit, part of well-flagged policies with little potential to cause controversy at home or give the impression Mr. Xi is bowing to foreign pressure.
The disassembly of Baotou Iron and Steel (Group) Co.’s hulking No. 2 blast furnace is symbolic in China: The Inner Mongolia steelmaker was once known for being able to produce enough iron for a new Eiffel Tower in three days. Pulling down the rusty metalworks cuts a bit of production capacity at a time when Chinese steel exports are a trade irritant world-wide, particularly in Europe. It also fits with Mr. Xi’s plan for the G-20 to identify priorities on structural reform and address pollution. Read more