China to promote growth of small number of large-scale mills

Following a meeting held by China's Ministry of Industry and Information Technology (MIIT), it has been learned that two documents entitled ‘Entry Criteria for Steel Enterprises and Guidelines for Promoting Merger' and ‘Reorganization of Steel Enterprises' are to be issued soon. According to the guidelines in the documents, via strategic mergers and restructurings China is to promote the growth of three to five domestic steel enterprises which would be strongly competitive on a international level.