Sun Guolong, general manager of Baogang Group, said carbon capture utilization and storage will play a critical and evolving role in China's energy transition.

China is a large consumer of iron ore.

Steel, magnesium and its products, and coal are among the major exported commodities.

As a large coal supply base, Xinjiang aims to achieve coal output of more than 400 million tons by 2025.

Hydrogen can only be generated by consuming primary energy such as coal, natural gas and renewable energy.

In terms of improvement in rankings, China's Ansteel Group Corp made the highest jump across 183 places to 217.

They also said the industry will likely experience demand recovery to a certain extent in the coming months.

But to cut pollution, China has reduced steel production, leading to the closure of many plants.