Chinese coal output and sales suffer drop in Q1
Print Edition
CHINA’S coal output fell 3.5 percent year on year to 850 million tons in the first quarter of this year, the China National Coal Association said yesterday.
The sales volume of coal shrank 4.7 percent to 800 million tons in the first three months while total losses of 90 major coal enterprises hit 13.1 billion yuan (US$2.13 billion), according to the association.
China imported 32.04 million tons of coal in the period, down 45.3 percent from a year ago, and the country’s coal reserves have exceeded 300 million tons for 39 consecutive months.
Wang Xianzheng, the body’s head, said the weakness in the coal industry will stay flat for a long time with lower prices, but there are opportunities for future development.
He urged stricter regulations to control production capacity, stabilize coal prices and guarantee employment to cut coal output by 5 percent by the end of 2015.
Higher efficiency and added value will help change coal consumption and upgrade the industry, Wang added.
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