China’s industry ministry on Tuesday set an aggressive goal of forging global giants in the electronics sector within the next two years through mergers and alliances, and reiterated a longstanding push for Chinese companies to explore overseas acquisitions.
The target for the electronics sector is part of a wider plan to consolidate China’s fragmented major industries, including steel, shipping, automotives, cement and aluminum. Overcapacity in heavy industries has been blamed for amplifying a sharp slowdown in growth in the last two years.
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Chuin-Wei Yap and Paul Mozur, Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/BcIAtow_axY/
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