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Steelmaker Ternium, controlled by Italian-Argentine group Techint, saw its Q3 net income fall by more than 80% year-on-year to US$220mn.

By 2025, the country will have about 50,000 hydrogen fuel-cell vehicles and its annual hydrogen production from renewable energy will reach 100,000 to 200,000 tons.

Energy consumption used as raw materials rather than fuel and power will not be included in total energy consumption control.

The official said that the government will encourage central SOEs to conduct strategic cooperation in various ways.

The remarks came after the association reported weakening demand of steel materials and high prices of raw materials used in production like coking coals.

The industrial profit data covers large firms with annual revenues of at least 20 million yuan from their main operations.

Therefore, China's macroeconomic policies should continue to focus on expanding infrastructure investment and stabilizing real estate investment.

Lian also introduced development situations of Hebei during the conference.