On August 23, China's Ministry of Industry and Information Technology (MIIT) issued a notice regarding the halting of steel capacity replacement.

They highlighted that the relaxation of the requirement on the utilization rate of new energy may create about 74 gigawatts of new installations, bringing multiple benefits to key sectors.

The use of green and low-carbon technologies in emerging sectors is another priority of the policy document.

Daily market update: Chairman of the China Securities Regulatory Commission said that capital market stability will be given a more prominent position; the Bank of Japan stayed on hold and lowered its inflation forecast for fiscal year 2024

China will cut coal import tariffs to zero from 1 May 2022-31 March 2023, the Customs Tariff Commission of the State Council has announced 28 April 2022.

These were major goals set in a development guideline jointly released by the Ministry of Industry and Information Technology, National Development and Reform Commission, and the Ministry of Ecology and Environment.

Zhang said he believes China Baowu Steel Group, and Anshan Iron & Steel (Ansteel) and Benxi Iron & Steel (Bensteel) are potential M&A candidates.

China's top banking and insurance regulator has released a circular on strengthening financial support for coal and electricity production and maintaining order in the commodity market.