The steel giant is going to pursue latest technologies and innovation and emerge as the global steel industry leader, said its chairman.

$30.6b earmarked for mixed-ownership reform, cutting-edge technology.

It started construction on Aug 16 with an area of 6,500 square meters.

Fiscal spending likely to focus more on public services to improve livelihoods.

The purchasing managers' index of China's manufacturing industry was 51.9 percent in December.

The 10 projects involve total investment of about 13.56 billion yuan and will be developed into 513,000 square meters of gross floor space.

China will resolutely cut the output of crude steel and ensure it falls year on year in 2021, a senior official said .

China's consumption of steel products is expected to grow marginally next year.