Authorities will conduct 294 revisions to equipment standards by 2025 to support the government's drive for equipment renewal and consumer goods exchange, according to a notice on the State Administration for Market Regulation website.

The government will focus on improving green product and high-end quality certifications, and establish a catalog for consumer product quality and safety, the notice said.

China’s increasing use of scrap steel will help cut its import reliance in the long run as Beijing recycled about 260 million tonnes of scrap steel last year, meeting over 20% of its crude steel production needs, a policy advisor recently told MNI. (See: MNI: Iron Ore Prices To Fall Further-China Advisor)