-
Advertorial
-
FOCUS
-
Guide
-
Lifestyle
-
Tech and Vogue
-
TechandScience
-
CHTF Special
-
Nanshan
-
Futian Today
-
Hit Bravo
-
Special Report
-
Junior Journalist Program
-
World Economy
-
Opinion
-
Diversions
-
Hotels
-
Movies
-
People
-
Person of the week
-
Weekend
-
Photo Highlights
-
Currency Focus
-
Kaleidoscope
-
Tech and Science
-
News Picks
-
Yes Teens
-
Budding Writers
-
Fun
-
Campus
-
Glamour
-
News
-
Digital Paper
-
Food drink
-
Majors_Forum
-
Speak Shenzhen
-
Shopping
-
Business_Markets
-
Restaurants
-
Travel
-
Investment
-
Hotels
-
Yearend Review
-
World
-
Sports
-
Entertainment
-
QINGDAO TODAY
-
In depth
-
Leisure Highlights
-
Markets
-
Business
-
Culture
-
China
-
Shenzhen
-
Important news
在线翻译:
szdaily -> Business -> 
Coal sector expects major mergers
    2018-01-08  08:53    Shenzhen Daily

THE National Development and Reform Commission (NDRC) said Friday it plans to create several “super-large” coal mining companies by the end of 2020 as the world’s biggest producer of the fuel ramps up years of efforts to streamline the fragmented sector and slash outdated capacity.

The NDRC said in a statement that by the end of 2020, China plans to form a number of mega-miners, each with the capacity to produce 100 million tons per year of coal, which will compete on the global market and help to modernize the sector.

Last year, China had more than 4,000 coal mines with a total capacity of 3.41 billion tons a year, the National Energy Administration (NEA) said in November.

Only six of China’s coal mining companies are currently capable of producing more than 100 million tons per year, according to the China National Coal Association. Those include top coal miner Shenhua Group, China Coal Energy Group and Datong Coal Mine Group.

The NDRC’s plan follows the acquisition last year of State power company China Guodian Group Corp. by Shenhua to create the world’s largest utility.

That latest arranged marriage by the government was part of the government’s effort to shake up its State sector, cut the number of companies and create globally competitive firms straddling many sectors including power generation, shipping and metals.

“Apart from eliminating excess capacity, the government is also seeking to improve coal firms’ profitability by extending business into non-coal sectors, such as power generation and transportation,” said Wu Qi, a research director at Hengfeng Bank Research Institute.

Among the steps proposed Friday, the NDRC said it would encourage the coal industry to undertake more dealmaking with chemical coal, shipping and iron and steel firms.(SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn