BEIJING -- China aims to reduce the generation intensity of industrial solid waste in steel, nonferrous metals, and chemical sectors by 2025, and meanwhile significantly improve the utilization of bulk solid waste.

Currently, the allowances are distributed to participating emitters free of charge.

The announcement will help stabilize the industrial chain and maintain market stability.

China has made progress in preventing solid waste pollution with strengthened legislation and supervision.

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The coal storage in China's power plants reached 165 million tons, up 40 million tons year-on-year, the NDRC said.

These were major goals set in a development guideline jointly released by the Ministry of Industry and Information Technology, National Development and Reform Commission, and the Ministry of Ecology and Environment.

Zhang said he believes China Baowu Steel Group, and Anshan Iron & Steel (Ansteel) and Benxi Iron & Steel (Bensteel) are potential M&A candidates.