The National Audit Office (NAO) is investigating major domestic steelmakers’ implementation of a nationwide adjustment and revival plan in the steel sector between June and November this year. The investigation comes in the last year of the three-year revival plan the Chinese government announced in March 2009 amid the steel sector’s worsening situation caused by the global financial crisis. Under the plan, Chinese steelmakers must make structural adjustments and industrial upgrades to off set the effect of an industrywide downturn, and to increase attention in the domestic market after a previous focus on exports. In June, the NAO appointed three audit offices to survey three state-owned steel companies ― Baoshan Iron and Steel Group Corp (Baosteel), Wuhan Iron and Steel (Group) Corp, and Anshan Iron and Steel Group Corp. The on-site audits are scheduled to conclude in November. The NAO will also investigate the supply of iron ore and try to improve the price negotiation mechanism.