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"China only exports a small amount of steel to the EU, and the main clients for most Chinese steel companies are from the domestic market and developing countries and regions," Tian said.

"China is in a new era and Chinese people need a higher quality of life, which also requires a higher quality energy system, and that basically means less coal and more natural gas and more renewable (energy) in the mix," he said.

"China is one of SABIC's core strategic markets, and we are committed as a partner to helping elevate China's sustainable development and inclusive growth, while reinforcing SABIC's development prospects here," he said, adding that SABIC is committed to contributing to economic exchanges between the two sides through continuous investment in China.

"But we are determined to tackle the difficulty, and are developing a pragmatic strategy to enter the US market. Progressive goals have been set to achieve a breakthrough in the US market this year.

"CASME used to be a grassroots association seldom participating in international activities. However, since the first half of last year, especially since May this year when the Belt and Road Forum for International Cooperation was held, more associations like CASME in countries such as United States, Russia and Singapore have contacted us for cooperation," said Ren Xinglei, senior vice-chairman of CASME, in Beijing Thursday.