China Tightens Policies for Steel Projects for Carbon Neutrality
Chinese Global Times reported that China’s National Development and Reform Commission has released an official report targeting steel projects in an effort
Chinese Global Times reported that China’s National Development and Reform Commission has released an official report targeting steel projects in an effort to push the steel industry to achieve carbon neutrality and promote green, low carbon and high quality development. According to the NDRC's report, construction of steel smelting projects must meet the requirements of advanced technology and equipment as well as leading indicators in the steel industry to achieve green and intelligent development and pollutant emissions should meet the strict requirements.
China Institute for Studies in Energy Policy at Xiamen University Dean Mr Lin Boqiang told the Global Times that this move aims to upgrade China's steel industry and reduce the energy consumption in steel production.
Separately, China’s Ministry of Industry and Information has released the updated detailed guidelines regarding the old-for-new steel capacity swaps in China on May 6, and it will take effect on June 1 nationwide. The guidelines, thus, will be replacing the earlier version that took effect since the start of 2018 but then had been shelved since January 2020 because of the loopholes and defects that had been detected in the actual execution, and the ministry has since then been working on an updated