business

China to further cut crude steel output for carbon neutrality goal

BEIJING, Dec. 29 (Xinhua) — China will resolutely cut the output of crude steel and ensure it falls year on year in 2021, a senior official said on Tuesday.

Efforts will be made to promote low-carbon industrial development and green manufacturing next year, said Minister of Industry and Information Technology Xiao Yaqing at a work conference.

China previously announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

In recent years, China has taken solid steps to cut overcapacity, particularly in the energy-consuming steel sector.

During the 13th Five-Year Plan period (2016-2020), China met its target of reducing steel output by 150 million tonnes ahead of schedule. Energy consumption per unit of industrial output by China’s designated large enterprises also saw a remarkable drop, according to the conference.

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