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CISA hopes China's steelmakers to be world-scale companies
Posted on 29 November 2007
Source: YIEH, November 28, 2007
While Chinese steel industry has been still decentralization, its foreign competitors are trying to hand together, such as Mittal Steel acquired Arcelor in July 2006, India-based Tata merged with Corus in February 2007, even BHP Billiton is trying to acquire Rio Tinto from earlier this month, all of these are increasing the competitive pressure on
The major resistance of reorganization is from local governments because the steel companies are one of their major tax sources.