The company, also known as China Energy, has signed with 40 companies from 18 countries and regions for contracts worth $2.5 billion (17.9 billion yuan) during the fifth CIIE.

Although Brazilian miner Vale is focusing on cost control in response to the global economic slowdown, it also advances key projects.

Steelmaker Ternium, controlled by Italian-Argentine group Techint, saw its Q3 net income fall by more than 80% year-on-year to US$220mn.

By 2025, the country will have about 50,000 hydrogen fuel-cell vehicles and its annual hydrogen production from renewable energy will reach 100,000 to 200,000 tons.

The official said that the government will encourage central SOEs to conduct strategic cooperation in various ways.

Energy consumption used as raw materials rather than fuel and power will not be included in total energy consumption control.

The remarks came after the association reported weakening demand of steel materials and high prices of raw materials used in production like coking coals.

The industrial profit data covers large firms with annual revenues of at least 20 million yuan from their main operations.