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China Baowu plans to boost capacity while Beijing seeks cut-The 19th China(Guangzhou)Int'l Stainless Steel Industry Exhibition-The 19th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
9/27/2017 Stainless Steel Exhibition |
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amily:arial;font-size:14px;">How will China’s sweeping pollution crackdown affect its economy?
Mr Chen said the group was negotiating possible takeovers or mergers with smaller steelmakers, mainly state-owned ones.
Analysts said that China’s drive to cut excessive industrial capacity is leading to the emergence of bigger and more powerful state players in industries like steel and coal – sometimes at the cost of private businesses.
Mr Hu Xingdou a professor from Beijing Institute of Technology said that “In many traditional industries, private businesses are further marginalised. It’s really not a good sign for China that there are more and more Chinese state businesses in the Fortune 500 list.”
China, which contributes half of the global crude steel production, booked 808 million tonnes in steel output in 2016, slightly growing from the output of 804 million tonnes in 2015, according to data by the National Bureau of Statistics.
Mr Chen said the country’s steel market featured over 500 manufacturers and other unregistered smaller mills and the volatility of the sector had a major impact on the overall economy.
-The 19th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
- Stainless Steel exhibition,2018
Stainless Steel exhibition, China Stainless Steel exhibition,
Guangzhou Stainless Steel expo
Guangzhou
Stainless Steel exhibition, 2018 Stainless Steel expo,
China Stainless Steel expo
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