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The Boao Forum for Asia (BFA) Annual Conference 2022 which ended on Friday was closely watched by business runners and scholars worldwide as the global economy desperately needs impetus and certainty.

Vietnam spent around 4 billion U.S. dollars importing more than 3.8 million tons of steel and iron in the first four months of this year.

"The previously pent-up steel consumption will not disappear. It will only be delayed," Shi said.

New energy generated from renewables gains more ground as private firms, SOEs up efforts.

Facing the pressure of increasing uncertainties in the global energy market caused by geopolitical conflicts, China has pledged maximum efforts to safeguard its energy supply.