Expert: Govt is pondering tax rebates to help steel industry
The profits of China's large and medium-sized steel companies plunged 95.8 percent year-on-year in the first half of the year, as a slowing economy curbed demand and prices were slashed, a senior industry official said on Tuesday.
The total profit of the steel industry was 2.39 billion yuan ($376 million), while the companies that were in the red reported a total loss of 14.25 billion yuan, according to the China Iron and Steel Association.
