Thursday, April 20, 2006
China's steel industry prepares for restructuring
Sometimes it's hard to tell if things reported in the Chinese media actually mean anything or whether they're just posturing. However, a number of people have said that the Chinese Steel industry is going to restructure, willingly or not, in the next 5 years.
People's Daily Online
Industry leaders who have attended the fourth China International Steel Congress in Beijing early this week predict that a wave of merges and acquisitions is set to sweep China's steel industry.
'China's steel industry will see large-scale restructuring in line with changing international environment and intensified competition,' said Xu Lejiang, general manager of Shanghai Baosteel Group Corp.
People's Daily Online
Industry leaders who have attended the fourth China International Steel Congress in Beijing early this week predict that a wave of merges and acquisitions is set to sweep China's steel industry.
'China's steel industry will see large-scale restructuring in line with changing international environment and intensified competition,' said Xu Lejiang, general manager of Shanghai Baosteel Group Corp.
