On February 23, spot coal transactions started to be concluded at the China Taiyuan Coal Transaction Center (CTCTC), the country's first national coal exchange, located in Taiyuan, the capital of the coal-rich Chinese province of Shanxi. On the first day of business, 82 transaction contracts were signed, for an aggregate tonnage of 722,800 mt with an overall value of RMB 695.96 million ($104.92 million).
Services provided by the exchange center include financing, transportation, trading, account settlement and distribution. In future, all coal resources delivered by railways within Shanxi Province will have to be transacted via the electronic trading system of the exchange center.