China will create megacorporations to control the main markets

The Chinese Ministry of Industry and Information Technologies, the Chinese National Commission on Reforms and Development and the State Asset Management Service began to implement the mergers and reorganizations outlined by the Government of this country in nine main industries: metallurgy, production of building materials, electronic information, shipping, production of rare -earth and non -ferrous metals and rural industries. This is written by Steelorbis.

The nine main sectors of China’s industry include more than 900 listing companies, with a total market value of about 640 billion US dollars.

Until 2015, the Chinese government plans to place 90% of the production of cars under the control of the 10 largest companies, the same thing will happen with 90% of aluminum production capacities. The leadership of the PRC over the next three years will reduce the number of small companies involved in the extraction and processing of rare -earth metals.

According to the government plan, until 2015, 10 Metallurgical companies in China will be able to control more than 60% of the domestic steel market and six of them will fall into the top 10 of the global steel manufacturers.

In addition, in accordance with the China management, 10 shipbuilding companies will control 70% of the country's domestic market, and five of them will take a place in the ten world leaders of the shipbuilding industry.

Recall that back in December 2012, speaking at a press conference of the Chinese Association of cast iron manufacturers and became its vice-secretary Shi Jingdun that the total capacities of the Chinese steel plants are approximately 980 million tons, and their redundancy reached 300 million tons.