China Moves to Tame Huge Steel Exports With License Regime

China will implement a broad licensing system for steel exports, the country’s Ministry of Commerce said, in what could be a bid to tame record shipments of the metal flowing out the country.

Exporters will have to seek permission to ship out a range of steel products starting from Jan. 1, the ministry said in a statement. The announcement didn’t give any reason for the new regulations, but the move comes at the end of a record year for China’s steel exports, which has fueled trade tensions.