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.

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.

Chongqing Iron & Steel (Group)'s steel output broke through 7 million tons.

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

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