China Steps Up Sino-Foreign Coal Cooperation

China has devised preferential policies to give foreign investors easier access to launching coal projects in the country, a senior official with the State Administration of Coal Industry on Friday.

It is reported that according to the official, foreign investors are allowed to hold a majority stake in all coal projects in which they are allowed or encouraged to invest.

The administration will give priority to the construction of foreign-funded coal projects, and actively arrange the domestic segments of capital in co-funded coal projects, the official said.

In addition to the preferential policies granted by the state, foreign investors can also enjoy preferential policies worked out by local governments.

Local coal enterprises will also be allowed to provide favorable treatment for the foreign investors in light of relevant state rules.

The official said that his administration will continue its efforts this year to present a large group of big coal projects for foreign investors, with priority given to building pit-head power plants and coal transport facilities, exploiting coal bed methane, and developing clean coal technology.

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