December 30, 2008

China Steel Continues Consolidation

The Hebei Iron & Steel Group is further consolidating and will now have one listed entity after Tangshan Iron & Steel buys the shares of Handan Steel and Chengde XinXin to form one mega company.

China's steel industry is consolidating as part of a larger plan to center important industries around 1 to 3 core businesses. The overall scheme of the State Council is to corporatize the Chinese economy into a mostly private oligarchy but with significant state control.


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