As the largest steel-producing country, China’s steel industry has experienced rapid development in terms of production level and quality. Owing to the high consumption of coal in the iron and steel industry, air pollutants and carbon dioxide (CO₂) show similar emission properties in flue gas. In view of the collaborative reduction of pollution and carbon emissions, the emission standards for pollutants and carbon were first analyzed, suggesting that carbon emission standards for the iron and steel industry should be accelerated. A collaborative technology system for the reduction of pollution and carbon emissions from the iron and steel industry in China is demonstrated, consisting of ① optimization of present ultra-low emission technology, ② low-carbon innovation for present production processes, ③ steel production process reengineering, and ④ carbon capture, utilization, and storage (CCUS). Finally, the technical prospect for collaborative reduction of pollution and carbon emissions from the iron and steel industry in China is suggested to support high-quality green development in this industry.