China Allowing Foreign Steelmakers to Set Up Wholly Owned Businesses
07/19/2016 - China is easing restrictions on foreign-owned companies from establishing steel-making plants in the country, reports the South China Morning Post.
According to the Post, foreign companies will now be allowed to set up wholly-owned businesses and will no longer be subject to qualification requirements – as long as they up shop within one of four free-trade zones.
“Ultimately China wants to attract foreign investment to set up highly efficient firms to produce higher-end steel products ... this could help force Chinese firms to become more competitive and drive badly needed industry consolidation,” Argonaut Securities metals and mining analyst Helen Lau told the newspaper.
The Post has the full story here.
“Ultimately China wants to attract foreign investment to set up highly efficient firms to produce higher-end steel products ... this could help force Chinese firms to become more competitive and drive badly needed industry consolidation,” Argonaut Securities metals and mining analyst Helen Lau told the newspaper.
The Post has the full story here.
