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Readjustment Effective in China's Coal Sector
China has made headway in improving coal economic operation through readjusting its coal industry structure, and has achieved results in cutting coal production and stockpiles.
According to Zhang Baoming, director of the State Administration of Coal Industry, the country's coal sector is launching a massive drive to close down illegal coal mines and reduce coal stockpiles. Coal supply exceeding demand has been eased in some parts of the country with coal prices rising moderately.
To date, the country has closed down 33,000 small coal mines and cut production by more than 300 million tons, the official added.
He stressed that the drive of closing down small coal mines and reducing stockpiles is a major step to readjust and optimize coal industrial structure which will help the sector turn losses into profit.
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