Arab Today, arab today slump in shanxis coal industry
Last Updated : GMT 04:43:53
Arab Today, arab today
Arab Today, arab today

Slump in Shanxi's coal industry

Arab Today, arab today

Arab Today, arab today Slump in Shanxi's coal industry

Shanxi's coal industry
Taiyuan - XINHUA

Coal mines in north China's Shanxi Province face a bleak future, with a continued slump in the fortunes of an industry that was once the backbone of the local economy.

Shanxi's coal industry lost more than 4 billion yuan (644 million U.S. dollars) in the first half of 2015 as government curbs on the polluting sector took their toll, official statistics indicated on Tuesday.

Coal production reached 463 million tonnes during the first six months, a year-on-year decrease of 3.2 percent. Meanwhile, coal storage climbed to 47 million tonnes, up 35 percent compared with the beginning of 2015 and accounting for almost half of China's total inventory.

The industry has now suffered losses for 12 consecutive months.

The Shanxi government has controlled the growth of coal production in recent years in the hope of shaking off the economic mode of relying heavily on coal resources. The provincial government is approving no new coal mines for the next five years to tackle overcapacity.

Meanwhile, banks in China have issued a variety of restrictive financing measures for coal-related industries, including raising the financing threshold for coal producers and lowering loan scales.

"It will be difficult to reverse the situation in the coal market," said Pan Yun, deputy head of the Shanxi Academy of Social Sciences.

"On one hand, the economic slowdown will cap demands for coal. On the other, the country has increased efforts to save energy and reduce emissions. The rising proportion of alternative energies including hydropower and natural gas will also reduce demand for coal," Pan added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today slump in shanxis coal industry Arab Today, arab today slump in shanxis coal industry

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today slump in shanxis coal industry Arab Today, arab today slump in shanxis coal industry

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday