China’s plan to reform its steel industry is under way but faces challenges from provincial governments and continued overproduction
Anumber of recent deals have revealed the details of Beijing's plan to use closures, asset restructuring and mergers to create 10 groups responsible for 60 to 70 percent of the nation's steel production by 2025. Though Xi Jinping has expanded his control over local governments, they still pose challenges, as do companies that continue to create problems with overcapacity.
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