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China unveils requirements to boost mergers

Source:   Time:

BEIJING, Jan. 22 (Xinhua) -- The government has revealed specific requirements that are intended to increase mergers in nine sectors, the Ministry of Industry and Information Technology (MIIT) said Tuesday.

The MIIT said the government is encouraging mergers in the automaking, steel, cement, shipbuilding, electrolytic aluminum, rare earth, electronic information and pharmaceutical sectors.

The ministry said the government aims to incorporate scattered production capacity and upgrade industrial structures in order to increase enterprises' international competitiveness.

A central economic work conference held last December saw a government vow to adjust China's industrial structure and resolve overcapacity problems that have hobbled some sectors.

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