Crude steel production to fall next year

China will take more steps to ensure that crude steel output declines further next year. Efforts will be made to promote low-carbon industrial development and green manufacturing next year, Xiao Yaqing, minister of industry and information technology, said during a work conference. China had earlier said that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. In recent years, China has taken solid steps to cut overcapacity, particularly in the high energy-consuming steel sector.

Weichai sees growth in engine output

Weichai Power Co Ltd, a leading Chinese powertrain manufacturer, sold more than 1 million engines this year, up by 33 percent on a yearly basis. The group posted a 15 percent growth in total revenue and profit this year, despite significant revenue and profit drops of its overseas operations due to the COVID-19 pandemic. The company sold over 500,000 heavy vehicle engines, accounting for half of the total sales.

Xinhua