BEIJING, July 25 (Xinhua) -- The pressure in emergency coal supply in China is increasing in the wake of capacity cut in the coal industry, said Liang Jiakun, party secretary with the China National Coal Association (CNCA), on 2019 China Coal Trade Conference in Summer.
China's coal mines dropped to 5,800 sites currently from approximately 10,000 sites by the end of 2014 due to the efforts of phasing out obsolete capacity. This has caused great changes in terms of regional supply structure and challenged supply transport deployment, Liang said.
90 large coal enterprises realized profits of 64.08 billion yuan in the first five months, in which profits of the top five pocketed 59.4 percent of the total, according to CNCA deputy secretary general Zhang Hong.
Coal firms showed uneven profitability with most profits going to a few large enterprises while enterprises above designated scale showing nearly 30 percent loss-making, Liang added.
Coal surplus will still be the normality and more efforts are needed for further capacity cut, Liang said. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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