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China's MIIT to Reshuffle Five Sectors in 2010

iconDec 23, 2009 08:58
Source:SMM

BEIJING, Dec. 23 -- China's Ministry of Industry and Information Technology will promote the merger and reorganization of the steel, nonferrous metal, building material, automobile and shipping sectors next year, said Li Yizhong, the minister of industry and information technology at a working conference yesterday.

Li said that the MIIT will cooperate with other ministries, including the Ministry of Finance, the Ministry of Land and Resources and the Ministry of Labor and Social Security, to release pertinent and supportive policies to remove obstacles in the merger and reorganization process.

Reportedly, the MIIT will also improve policies to raise the standards for energy conservation, environmental protection and comprehensive utilization of resources in order to raise barriers to entry into energy-intensive industries.

The expansion of existing shipbuilding enterprises are suspended for three years, and new projects in the aluminum electrolysis industry and the iron and steel industry are also denied approval or support in principle.

 

 

Aluminum Al
M&A merger and acquisition
MIIT
Ministry of Land and Resources (MLR)

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