According to the guidelines which call for local governments to make policies to facilitate mergers and restructuring, the concentration ratio is required to reach 90 percent by 2015 in the top ten auto enterprises and 60 percent in the top ten steel companies.

　　The move was taken as a measure to prevent serious production overcapacity in the sectors.

　　There is obvious overcapacity in the country's steel sector, which has been struggling to deal with sharp declines in steel prices from the second half of 2008 and weak demand for steel starting from 2009 amid a global slump in the shipbuilding and manufacturing market.

　　Shanghai Baosteel Group, one of the largest steel manufacturers in China, launched a production line in 2008 which, however, suffered a deficit of 998 million yuan or about 160 million USD in 2009 and had to be stopped in September 2012.

　　Hu Xuefa, is the assistant to general manager of Shanghai Baosteel Group Corporation.

　　"The main products of the steel plant are medium and thick steel plates. Of all steel products, these types of steel plates face the most difficult situation because of excess production capacity, worsened by a slump in the global shipbuilding market after beginning of the financial crisis in 2008."

　　China's shipbuilding sector is facing a similar situation. In Ningbo City, east China's Zhejiang Province, a large shipbuilding company, which employed 5,000 workers to build 12 ships of 50,000 tons or above in its prime, has gone bankrupt.

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