China's industry guidelines to be released this year

Published: 28 Sep 2009 19:12:18 PST

Sep.29 MetalBiz--Guidelines for eliminating obsolete and inefficient production capacity and M&A among Chinese companies have been submitted to seven ministries and commissions under the State Council for their opinions and suggestions, said Xin Renzhou, vice director of the Industry Policy Department under China Ministry of Industry and Information Technology (MIIT).

Xin also said the State Council has emphasized that the guidelines should be published by the end of the year.

The guidelines will cover China's iron and steel, nonferrous metals, equipment, and cement industries. These industries will only start the restructuring once the guidelines have been issued.