Six listed companies owned by China’s central government unveiled stock repurchase plans worth around 4 billion yuan (US$547 million) on Monday evening, in a sign that state buying is gathering pace to stabilise the country’s flagging equity markets.
China finalizing “high-quality” growth in steel industry
China’s Ministry of Industry and Information Technology (MIIT), the regulating body of the country’s industrial sector including steel mills, is collecting the public feedbacks until January 31 for the final version of the “high-quality” development guidelines for the domestic steel mills over the 14th Five-Year Plan period (2021-2025) and over an even longer term until 2035, Mysteel Global noted from MIIT’s notice.
The 15-page guidance lists the detailed criteria in all the key aspects including technological upgrading, automation and low-carbon emission in production, capacity distribution optimization, and competitiveness enhancement for an eco-friendly and sustainable development in the Chinese steel sector.