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Despite the winter cold, workers are busy building a large wind power project in the Shanxi city of Gujiao.

The construction of a mega solar and wind power base in North China's Inner Mongolia autonomous region will further facilitate the country's low-carbon energy transition and ensure domestic energy security, industry experts said.

This means that renewables, which have lower individual production costs, end up having to share the price burden of more expensive fossil fuels.

Experts highlight role of govt plan in bringing upgrades in traditional, clean energy sectors.

A similar project that transmits power from Baihetan to Jiangsu Province in the east was put into use in July.

Thanks to the large-scale development of clean energy, especially solar and wind power, consumption of fossil fuels is expected to decrease by 3.15 billion ton standard coals during the 2030-60 period, Dai said.

Prices of key metals are likely to fall in 2023 but are still above 10-year averages, according to Fitch Ratings.

Sinosteel Group Corp Ltd, or Sinosteel, has been integrated into Shanghai-headquartered China Baowu Steel Group.