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Carbon trading s steel edge set to sharpen shortly By LIU ZHIHUA | China Daily | Updated: 2021-05-17 09:41 Share CLOSE Employees carry out maintenance work at a steel production facility in Maanshan, Anhui province, in November. [Photo by LUO JISHENG/FOR CHINA DAILY]
China s national-level carbon emissions trading system is expected to be a significant lever for the steel industry s carbon emissions reduction and structural optimization, experts said.
The national carbon emissions trading system, scheduled to become operational by the end of June, will first open for the power sector, to be followed by the steel industry as soon as possible, within the 14th Five-Year Plan period (2021-25), said Li Gao, head of the department of climate change at the Ministry of Ecology and Environment, CNR Business Radio reported.
Carbon trading s steel edge set to sharpen shortly chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
Ansteel, Bengang Relaunch Restructuring to Create China’s No. 2 Steelmaker
China’s state-owned
Ansteel Group is planning a strategic consolidation with regional rival
Benxi Steel Group, known as Bengang, a move that could form China’s second-largest steelmaker, Bengang’s Shenzhen-listed unit said Thursday.
The restructuring, which may result in a change of control of the company, is still in the planning stage, subject to the approval of related government departments, Bengang Steel Plates Co. Ltd. (000761.SZ) said in a statement.
This would be the second attempt for the two steelmakers to consolidate in 16 years. The two companies announced a merger in 2005 but were unable to complete it. As Ansteel is owned by the national state-assets regulator and Bengang is owned by the local regulator, they couldn’t agree on an asset-reorganization plan, and the merger was limited to consolidation of financial statement, without an actual integration.