Meanwhile, the standard has strict requirements regarding environmental protection.

Rio Tinto has committed to invest $10 million with the world's largest steel producer China Baowu Steel Group over the next two years in low-carbon steelmaking projects and research, the company said.

China's high-speed railway products, tech and standards receive international acclaim.

The country's goal-oriented performance-appraisal mechanism has proved its efficiency in pollution control

$30.6b earmarked for mixed-ownership reform, cutting-edge technology.

Fiscal spending likely to focus more on public services to improve livelihoods.

The steel giant is going to pursue latest technologies and innovation and emerge as the global steel industry leader, said its chairman.

The purchasing managers' index of China's manufacturing industry was 51.9 percent in December.