China to cancel steel products export license system next year

China will cancel the steel products export license system, which has been imposed for one and a half years, in a bid to boost steel products export and push export growth, a source said.

The move is the latest measure to bolster steel products export and overall export in the wake of the elimination of steel products export tariff.

The source, who requested anonymity, told Dow Jones Newswires on Wednesday that China will eliminate the existing export license system imposed on steel products from January 1, 2009.