China's steel industry faces a critical decade for its transition to meet Paris Agreement goals, according to a report by the Climate Bonds Initiative (CBI). Nearly 80% of the country's coal-fired blast furnace capacity, equivalent to 730.8 million tons per year, must be decommissioned or reinvested by 2030. To achieve decarbonization by 2050, an estimated 1.6 trillion yuan ($220 billion) in investments is necessary. CBI emphasizes the importance of sustainable financing, including green bonds, and calls for harmonized guidelines to facilitate capital flows. Strong government policies and carbon pricing mechanisms are also essential to stimulate demand for green steel and support the industry's transition.