The Chinese steel industry is now moving towards a deep consolidation and reorganization.

In recent years, under the waves of transformation and upgrading towards high-end, intelligent and green development, Chinese steel giants have been accelerating their pace in seizing the commanding heights in the global competition by integrating high-quality resources and expanding market territories. At the same time, in order to promote the high-quality development of the steel industry in China, the Ministry of Industry and Information Technology released the "Norms for the Steel Industry" this year, which includes mergers and acquisitions as part of the "efficiency" indicator, encouraging cross-regional and cross-ownership integration to increase industry concentration. Mergers and acquisitions, which used to focus on "scale expansion," are now shedding their old ways of merely accumulating physical assets, and under the dual refinement of policies and market forces, they are transitioning from quantitative accumulation towards breakthroughs in quality transformation. From competing in terms of "quantity" to emphasizing "quality," from scattered accumulation to systematic restructuring, the mergers and acquisitions in the Chinese steel industry are entering a challenging phase.