First, China has made the decision because fighting climate change is the common responsibility of humankind.

The crude steel output from January to September hit 781.59 million tons, up 4.5 percent from a year ago.

A sci-fi-themed amusement park is also expected to be set up in the Shougang Industrial Park by the end of 2021.

On November 6, POSCO and Tata Steel sign an agreement for business and technical cooperation of Hyperloop, an eco-friendly transportation.

January-October imports rose by 73.9pc from a year earlier to 17.71mn.

UK-Australian iron ore mining firm BHP has signed an agreement with Chinese steelmaker China Baowu to invest up to $35mn in jointly seeking technical solutions to reduce carbon emissions in steelmaking.

China's steel exports in October rose by 5.2pc from September to 4.04mn t as Chinese mills shifted supplies to overseas markets with falling domestic prices.

The ministry’s seven main axes of the surge in production are going to be pursued under 40 major programs.