M&As to fuel upgrade of steel sector

Industry looks to build on impetus from reductions in overcapacity

Mergers and acquisitions will provide the impetus for sustainable transformation and upgrade of the iron and steel industry and leverage on gains from the overcapacity reduction campaigns in the sector that are coming to an end, industry experts said.

According to the National Development and Reform Commission, the nation's top economic regulator, China has fulfilled the upper overcapacity reduction goals for the 13th Five-Year Plan (2016-20) in the iron and steel sector in advance, and efforts will be continued for further high-quality development.