1. Text: | Print|

      Shanxi takes actions to steady local coal market

      2013-08-01 08:29 China Daily Web Editor: qindexing
      1

      As coal prices remain lackluster due to sluggish demand, Shanxi took measures to stabilize the local coal market and ease the mounting pressure that coal producers in the province have been feeling since January.

      The Shanxi provincial government has introduced 20 measures, including tax and administrative charge cuts, to accelerate the economic transformation and development of its coal industry and maintain sustainable growth, a notice posted on the government's website said.

      The short-term measures will be implemented from Aug 1 to Dec 31. Governments at different levels will also suspend the collection of environmental protection fees and industrial transformation development fees from coal mines, and cut coal trading service fees by 50 percent.

      The province will also urge financial institutions to help coal companies conduct debt-restructuring projects, and establish mechanisms to set up coal reserves organized by local governments. The long-term measures are expected to improve coal spot and futures trading.

      Before Shanxi's move, major coal production regions such as the Inner Mongolia autonomous region and Shandong and Henan provinces had also started to act to respond to the surging number of companies halting or cutting production in light of the adverse market conditions.

      Twenty-six large Chinese coal producers have chalked up combined losses of 4.66 billion yuan ($759.58 million) in the first half, according to the Beijing-based China National Coal Association.

      "The prolonged slump in domestic coal prices has put a number of Chinese mining companies in a negative position. They have difficulties facing the surge in payment delays, rising transportation fees, as well as labor and operational costs," said Liu Jianzhong, the chairman of Shanxi Coal Transportation and Sales Group Co Ltd in Taiyuan.

      China's total coal production in the first half stood at 1.79 billion tons, down 68 million tons from the same period a year earlier, with 16 provinces posting declines.

      Thermal coal production in China fell to a four-year low as industrial demand declined amid the sluggish economic development. Coal with an energy value of 5,500 kilocalories a kilogram at Qinhuangdao - a benchmark for China's domestic coal market - slid to a range of 560 yuan to 575 yuan a metric ton on Sunday, the lowest since July 27, 2009, according to the China Coal Transport and Distribution Association.

      Liu said the majority of State-owned mining enterprises in Shanxi are struggling to make a profit. Small private mines have either cut output or stopped production.

      The province will assign power-generating quotas to a number of enterprises, which are capable of carrying out the integrated production of both coal and electricity, to accelerate the pace of the integration of the coal and power industries.

      Shanxi aims to produce 900 million tons of coal this year. The province also plans to sell over 600 million tons of coal to other provinces, and achieve a sales income of more than 1 trillion yuan, according to the Shanxi Coal Industry Bureau.

      Meanwhile, similar measures have also been applied in neighboring provinces. Henan province started to allow power plants using locally produced coal to generate more electricity, and is studying the feasibility of direct power supplies to large-end users.

      While adopting measures like preventing coal from other provinces from entering Shandong, the East China province has begun to store more coal since May for the peak summer demand period as a way to stabilize local prices.

      "These measures, however, may still not be enough to boost the weak coal market, if the use of renewable energy and gas grows quickly, and imported coal continues to stay active in the second half of the year," said Li Xuegang, an industrial analyst at the Qinhuangdao Coal Trading Center in Hebei province.

      Li said that even though China's coal demand will continue to grow, its growth rate may slow down and the proportion of the nation's power output produced from coal is expected to drop in the long-term as consumption of other resources surges.

      Yanzhou Coal Mining Co Ltd, a major Chinese mining company in Shandong province, amended its performance report for the first half of 2013 on Tuesday. It now expects a loss of 2.35 billion yuan for the period.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲国产精品日韩专区AV| 日韩精品免费视频| 毛片视频免费观看| 亚洲国产视频一区| 天天影视色香欲综合免费| 亚洲精品在线免费观看| 久久综合国产乱子伦精品免费| 亚洲VA中文字幕无码一二三区| 91在线免费视频| 亚洲av色影在线| 97视频免费观看2区| 亚洲精品白色在线发布| xxxxwww免费| 亚洲国产精品网站在线播放 | 亚洲综合网站色欲色欲| 9i9精品国产免费久久| 亚洲精品夜夜夜妓女网| 热re99久久6国产精品免费| 亚洲成a人片在线观看中文app| 久久www免费人成看片| 亚洲AV无码AV男人的天堂不卡| 国产亚洲一区二区在线观看| 99精品视频免费| 亚洲视频在线观看不卡| 精品无码一级毛片免费视频观看| 久久久久久亚洲精品不卡| 国产羞羞的视频在线观看免费| 日韩一区二区免费视频| 免费a在线观看播放| 亚洲人成亚洲人成在线观看| 一级毛片免费毛片一级毛片免费 | 精品亚洲永久免费精品| 亚洲精品白色在线发布| 在线观看亚洲免费| 91成人免费福利网站在线| 久久青青草原亚洲av无码app| 在线观看成人免费视频| 亚洲第一二三四区| 国产精品国产自线拍免费软件| 亚洲精品成人图区| 亚洲高清免费视频|