China's first megaton high-pressure carbon dioxide transmission pipeline was put into operation on Tuesday, a significant milestone in China'sxa0large-scale development of the carbon capture, utilization and storage industrial chain, said operator China Petrochemical Corp, also known as Sinopec.

运营商中国石化集团公司表示，中国首条百万吨级高压二氧化碳输送管道于周二投入运营，这是中国碳捕获、利用和储存产业链大规模发展的一个重要里程碑。

"By offering energy-efficient equipment and solutions such as motors and drives, we are committed to supporting our customers in reducing their annual CO2 emissions by at least 100 megatons by 2030," he said, adding the company will continue to invest in innovations and technologies to make it possible for industries and society to use these technologies.

他说：“通过提供电机和驱动器等节能设备和解决方案，我们致力于支持客户到2030年将其年二氧化碳排放量至少减少1亿吨。”他补充道，该公司将继续投资于创新和技术，使行业和社会能够使用这些技术。

Recent projections by the International Energy Agency indicate that cumulative direct emission reductions using CCUS will account for 16 percent of global iron and steel emission reductions by 2050, requiring 400 megatons of carbon dioxide capture capacity each year.

The company initiated China's first megaton CCUS project last year－Sinopec Qilu-Shengli oilfield CCUS－which is expected to become China's largest whole industrial chain CCUS demonstration base and application case for promoting large-scale development of CCUS in the country.

As of May, the PBOC offered policy support to financial institutions to issue green and low-carbon loans totaling 230 billion yuan ($34.34 billion), which equates to around 47.8 megatons of annual carbon dioxide reduction.