Used mainly in galvanizing steel, around 50 percent of New Century's zinc is sent to China.

Automotive steel manufacturing relies on an entire industrial chain, starting from raw material procurement for steel making, hot rolling, advanced technology in cold rolling and galvanizing and finally sales and comprehensive services, said Zhao Ying, a researcher at the Institute of Industrial Economics, which is part of the Chinese Academy of Social Sciences in Beijing.

The country unveiled new incentives to galvanize sales of new energy vehicles Tuesday as part of efforts to stabilize domestic consumption.

"The BRI is a key platform for galvanizing the global economy," said Wang Fan, president of China Foreign Affairs University, who pointed to a throng of challenges facing global growth prospects, including rising protectionism and volatility in the international landscape.

Stronger measures to galvanize foreign investment will be explored on top of existing policies so as to create a level playing field, promote the flow of factors of production that enable innovation, and enhance pragmatic cooperation between domestic and foreign enterprises, Yuan said.

Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee, said the building of a unified domestic market will make China even more open, transparent and predictable for galvanizing greater private and foreign investment.

"The key is to use this opportunity to galvanize energy again, to look at things differently.

"We must roll out signature projects of critical importance without delay, to galvanize foreign investment and bolster confidence and expectations," Li said.

- China will hold this year's national mass entrepreneurship and innovation week from Oct 19 to 25 to galvanize broader business development, the National Development and Reform Commission has said.

The conference was designed as a platform to spark ideas, galvanize action and unleash the potential of cities in forging low-carbon pathways.

According to the plan, China will promote auto replacement, especially in rural areas, accelerate development of the second-hand car market and adjust subsidies to galvanize sales of new energy vehicles.

To support auto consumption, China will promote auto replacement, especially in rural areas, accelerate development of the second-hand car market and adjust subsidies to galvanize sales of new energy vehicles, according to a policy plan jointly released by 10 ministry-level authorities Tuesday.

He said that private equity funds and venture capital funds will be supported in participating in M&As, debt-to-equity swaps and equity investment, underscoring their role in galvanizing market vitality.

To galvanize farmers to grow grain, the central government continued to raise the minimum purchase price of wheat and rice, and maintained grain subsidy policies in 2022.