Ministry of Industry And Information Technology Decides To Forbid New Steel Capacity While Giving Greater Support To Mergers And Acquisitions

Zhang Haideng, deputy director of the Raw Materials Industry Department of the Ministry of Industry and Information Technology said that we must strictly implement capacity replacement, prohibit new capacity, and further deepen the reform of mixed ownership through mergers and reorganisations. Luo Tiejun, vice president of the China Iron and Steel Association also stressed on capacity management and restructuring.