This study aims to investigate the characteristics of the efficient evolution of China's iron and steel industry against the backdrop of limited openness and regulation and to discuss the important effects of regulatory policy and total factor productivity (TFP) of China's iron and steel industry. The method adopted the Zb. rad. Ekon. fak. Rij. • 2015 • vol. 33 • sv. 2 • 299-324 competition may not promote optimal resource allocation efficiency in China's iron and steel industry, but make the allocation less efficient.
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