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This year, the restructuring of steel and coal will not be reduced. The power point will shift from reduction to efficiency.

2018-05-28


At the recent meeting of the directors (enlarged) of the China Iron and Steel Association in 2018, Xia Nong, inspector of the Industry Coordination Department of the National Development and Reform Commission, said that in 2018, iron and steel and other industries should continue to consolidate the hard-won achievements of capacity reduction in the early stage and strictly control new capacity in violation of regulations. At the same time, we must be determined to further promote mergers and reorganizations and enhance industrial concentration."

At the recent meeting of the directors (enlarged) of the China Iron and Steel Association in 2018, Xia Nong, inspector of the Industry Coordination Department of the National Development and Reform Commission, said that in 2018, iron and steel and other industries should continue to consolidate the hard-won achievements of capacity reduction in the early stage and strictly control new capacity in violation of regulations. At the same time, we must be determined to further promote mergers and reorganizations and enhance industrial concentration."

Liu Zhe, deputy dean of the Wanbo New Economic Research Institute, said that companies with aging supplies such as steel and coal have precipitated a lot of production factors such as capital, land, and labor. Mergers and reorganizations are conducive to these factors from traditional supply aging industries to new supply and new supply. Energy industry transfer, and then optimize the allocation of stock resources. Through the deep integration and merger and reorganization of upstream and downstream industries, it is also conducive to resolving excess capacity and realizing the transformation and upgrading of the industry and the dynamic balance of supply and demand. Compared with the compulsory closure of enterprises through administrative means, encouraging the merger and reorganization of traditional enterprises is conducive to resolving the short-term impact of excess capacity and realizing the "soft landing" of economic and social impact ".

When talking about the current difficulties in the process of promoting mergers and reorganizations in the steel and coal industries, Liu Xiangdong, an associate researcher in the Economic Research Department of the China International Economic Exchange Center, said that most of the current overall operations of steel and coal companies are relatively difficult, and many companies have relatively large equity-debt relationships., The risk is high, and it is difficult to implement marketization. In this regard, we should speed up debt restructuring, and after sorting out the relationship between debt and creditor's rights, we should take the method of merger and reorganization to accelerate market clearance and efficiency improvement.

Liu Zhe pointed out that in order to solve the problems in mergers and reorganizations, on the one hand, it is necessary to improve the quality of the supply system as the main direction, and encourage traditional industries and backward production capacity to be acquired or merged by emerging industries and advanced production capacity. On the other hand, the state has issued relevant policies, strengthened the top-level design, clarified the distribution principles of relevant interests and supporting measures such as financial support and employee placement in the process of merger and reorganization, so as to avoid the phenomenon of "merger" but not "coordination.

In Liu Zhe's view, the focus of this year's merger and reorganization should shift from total control of restructuring and reduction to structural optimization of quality and efficiency.

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