The Ministry of Industry and Information Technology, along with 11 other offices, said they will support mergers in the automaking, steel, cement, shipbuilding, electrolytic aluminum, rare earth, electronic information, pharmacy and agriculture.
The Global Times, a tabloid newspaper affiliated with the People's Daily, reported that China aims to foster three to five large automakers and increase the concentration ratio of top 10 automakers to 90 percent by 2015.
The government will also seek to cut a large number of steel producers and slash the number of firms in the rare earth business, the report said.
reporter
Park Sae-jin
swatchsjp@ajunews.com
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