Stimulus fineprint for metals out
By Jiang Wei | China Daily | Updated: 2009-05-12 08:10
China will push forward consolidation in the non-ferrous metal industry to form three to five big firms in three years, a detailed stimulus plan released yesterday by the State Council showed.
The plan, whose draft was published in February, said: "The government seeks to make great progress in industrial consolidation. By 2011, the top 10 firms should control 90 percent of copper production, 70 percent of aluminum, 60 percent of lead and 60 percent of zinc."
The stimulus plan is one among a slew of packages to boost industries such as steel, shipbuilding, textile and automobile.
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