This means that renewables, which have lower individual production costs, end up having to share the price burden of more expensive fossil fuels.

Thanks to the large-scale development of clean energy, especially solar and wind power, consumption of fossil fuels is expected to decrease by 3.15 billion ton standard coals during the 2030-60 period, Dai said.

A similar project that transmits power from Baihetan to Jiangsu Province in the east was put into use in July.

A mega solar and wind power base kicked off construction in China's seventh-largest desert on Wednesday.

The construction of a mega solar and wind power base in North China's Inner Mongolia autonomous region will further facilitate the country's low-carbon energy transition and ensure domestic energy security, industry experts said.

Prices of key metals are likely to fall in 2023 but are still above 10-year averages, according to Fitch Ratings.

The restructuring of Sinosteel Group Corp Ltd, or Sinosteel, will further improve the structure of China's steel industry and bring stability to the commodity's prices in the years ahead, market observers said on Wednesday.

Investment and opening-up highlight companies' trust in cooperation and development.