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"Domestic steel industry, cross-regional, cross-ownership mergers and acquisitions slow progress from the current trend of view, the beginning of 2009," the steel industry restructuring and revitalization plan "proposed" China's top five steel production capacity of enterprises accounted for the domestic proportion can reach 45% The above "the goal is difficult to achieve." At the second Asian Steel Forum held in the last two days, a group of data provided by Xu Lejiang , chairman of Baosteel Group, revealed the current development of the domestic steel industry: steel concentration is not Rising and falling, steel investment will not fall. Slow progress in restructuring As a clear domestic merger and reorganization entity in the steel industry policy, the road for the promotion of mergers and acquisitions by state-owned large enterprises such as Baosteel Group is not smooth. The data show that from January to July this year, the top five steel companies in China accounted for the national production capacity. The proportion of production capacity was 28.8%, compared with 33% in the same period of last year. The proportion of domestic top 10 steel companies' production capacity accounted for 48.2% of the national production capacity, compared with 48.4% in the same period of last year. The industrial concentration did not rise and fall. Compared with state-owned steel companies such as Baosteel, some private enterprises that are interested in seeking investment opportunities in the steel industry are also struggling in steel investment and restructuring. An insider of Fosun Group, who is responsible for investment in the steel industry, told reporters that although the company's current investment focus is mainly on light assets such as consumption, it has not given up investment opportunities in the steel industry. The company has been looking for and negotiating suitable places across the country. The restructuring project, but this year a steel project did not talk about it. “When a company has a profit, it will not want to be restructured, but now many companies are already losing money and restructuring. It is still difficult because local governments want to carry out mergers and acquisitions in the region to keep taxes in the local area and also to replace the capacity. Stay in the local area." A person in the steel industry pointed out to reporters. It is noteworthy that, since last year, several provinces including Hebei, Shanxi and Anhui, the province are gradually introduced to speed up the restructuring plan, Hebei Iron and Steel (000,709, stock it), Taiyuan Iron Steel, Maanshan Steel and other provinces The large steel enterprises inside have been given the responsibility of reorganizing small and medium-sized steel enterprises in the province. The reporter learned from many enterprises that some private steel companies are not willing to be reorganized, even if they adopt a “gradual reorganization†approach. Not in harmony. The above-mentioned people told reporters that many state-owned enterprises are not very active in integrating private steel enterprises. After all, many private enterprises' equipment needs to be eliminated. Once they are integrated into the company, the cost of eliminating equipment needs to be borne by the restructuring party. In addition, many private steel companies have many places to cut corners in environmental protection facilities. After they are included in state-owned enterprises, it is necessary to invest in higher environmental protection costs. It is not just the concentration of the steel industry that the investment growth has failed to complete the national policy setting. As early as the financial crisis broke out, the relevant state departments clearly stated that in principle, new steel projects will no longer be approved, but this year, the steel industry The investment in fixed assets is still growing. According to data provided by Xu Lejiang during the meeting, from January to July this year, the steel industry completed investment growth rate of 17.5%, compared with 1.6% in the same period last year. At the same time, the industry's profit margin is declining, and rising liabilities have led to a significant increase in financial expenses. From January to July, the sales profit rate of key large and medium-sized steel enterprises was 3.18%, down by 0.09 percentage points year-on-year, while the industry average debt ratio was 65.6%, up 1.5 percentage points year-on-year. "The current situation is that the output growth of small and medium-sized enterprises is greater than that of large and medium-sized steel enterprises. SMEs can also get on the project with the support of the local government. The new project plans of large steel companies are stuck on the road." According to the reporter, for some local governments, the steel industry is also an important support for local GDP and employment. Li Shijun, chief analyst of the China Iron and Steel Association, also pointed out yesterday that the impulse of local investment to drive the economy is not the same as that of the central government. China Steel Association had predicted China's steel consumption in 2005. At that time, due to the great difference between the target values ​​of the central government and local government planning, two sets of forecast data were made. Five years later, it was found that it was based on The forecasts made by local planning are closer to the actual situation. Li Shijun predicts that for China's steel industry, the risk of expansion is still very high, because during the “ Twelfth Five-Year Plan†period, China's steel consumption will drop to single digits, and industry competition will reach unprecedented levels in the next few years. The degree of intensity, and companies that choose differentiated strategies, low-cost strategies, and centralized strategies can survive in fierce competition. Xu Lejiang also predicted that during the "Twelfth Five-Year Plan" period, overcapacity will be a normal state, China's steel industry will enter the era of micro-profit, and the competition of China's steel industry will shift from product competition to service competition, creating value for service and tapping profit space. .