Listed steel enterprises face exam again, reform to cure overcapacity

Sluggish results have been the dark clouds on the sky of China's steel enterprises for long. After the poor annual results in 2012, more than 10 listed steel companies have released semiannual reports or preliminary earnings estimates recently, reading huge drop in profit in 1H13 and increased loss, and some enterprises should have turned loss in to profit by subsidy from government. It is believed by experts that China's steel industry should shift development pattern to accelerate allaying overcapacity as soon as possible.