Date
20 October 2017

Govt outlines five-point plan for ailing coal sector, paper says

The State Council has outlined five strategies on its website to help the coal sector grapple with its twin problems of overcapacity and falling prices, the China Securities Journal reported Wednesday. The council said China should firmly contain unchecked growth in production, cut the industry’s tax burden, improve export and import management, lift production standards and management, and build a favourable environment for development. Approvals for new coal mines with production capacity under 300,000 metric tons a year will be suspended and coal producers are encouraged to merge, the report said.

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