Foreign direct investment in China's high-tech manufacturing sector jumped 10.1 percent year-on-year to 28.27 billion yuan ($3.92 billion) in the first two months, said the Ministry of Commerce.

Stausholm said the supply chain for China's green transition is a whole new business opportunity for multinational corporations like Rio Tinto.

BHP said it is committed to further supporting Chinese steelmakers through multiple partnerships.

The Chinese economy has shown strong resilience. China's urbanization, pursuit of low-carbon and green development, and rapid digitization have provided robust intrinsic momentum for its economic development.

Strengthening the capacity to defend against external risks will help build the country into a manufacturing powerhouse, Li with the CASS said.

Listed Nickel Asia Corp. (NAC) said its net income last year plunged by more than half due to lower nickel ore prices.

India's private-sector steelmaker JSW Steel has announced a 13.2mn t/yr greenfield steel manufacturing complex in Paradip, Odisha.

Vale will receive its pro rata share of Minas Rio production with completion of the deal. It will also have an option to acquire an additional 15pc stake in the enlarged Minas Rio for cash.