Coal sector to be slashed this year
Print Edition
CHINA will eliminate 77.79 million tons of outdated production capacity in the coal sector and close down 1,254 coal mines in 2015, the country’s energy watchdog said yesterday.
The moves aimed to further scale back the coal industry to curb its blind expansion and encourage use of renewable energy, said a circular jointly issued by the National Energy Administration and the State Administration of Coal Mine Safety.
While placing stricter standards in environmental protection, energy efficiency and safety, China will also encourage mergers and acquisitions in the coal industry, according to the circular.
As China’s economy is slowing, overcapacity is posing a challenge for policy-makers to balance growth and reforms.
Coal use accounts for about 66 percent of China’s primary energy consumption, 35 percentage points higher than the world average, according to the NEA.
The government plans to slash coal consumption by 160 million tons in the next five years, and to cut energy intensity, or units of energy per unit of GDP, by 3.1 percent in 2015.
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