Detailed regulations on merger and acquisition in the steel industry are expected to be published as early as September, which will remove the biggest barrier to realizing the goal of an extensive cross-regional consolidation among the steel sector. According to the plan, the traditional tax division system would be replaced by a new tax distribution system, under which tax revenues created by a target company are likely to be equally distributed among the governments in charge of the parties involved in the deal. China will finally see the top five steelmakers dominate the steel market with a 45 percent share.