Looking ahead, we believe economic growth will be a crucial priority for China, as the country has emphasized the importance of economic development, focusing on high-quality, balanced and inclusive growth.

The province's total import and export value from January to September hit 260.91 billion yuan ($35.96 billion), up 16.4 percent year-on-year.

Most of the capital goods in China posted lower prices in late October compared with mid-October, official data showed Friday.

Since its first iron ore shipment to China in 1973, Rio Tinto has supplied China with more than 3.5 billion tons of high-quality iron ore.

A high backwardation continued to dampen import appetite, leading to thin liquidity, although offers were quoted higher.

The company signed a cooperation agreement with Xinjiang Bayi Iron and Steel at the fourth CIIE in 2021 to provide the latter with approximately 4 million metric tons of iron ore worth $460 million this year.

The company, also known as China Energy, has signed with 40 companies from 18 countries and regions for contracts worth $2.5 billion (17.9 billion yuan) during the fifth CIIE.

Last November in Glasgow, the world’s climate leaders were locked in a fierce debate over whether the final draft of the summit’s agreement should include a pledge to “phase-out” or “phase-down” coal.