China’s National Development and Reform Commission has announced that in the first half of the current year China eliminated 111 million mt of coal production capacity, completing 74 percent of the annual target. Last year, China had eliminated 290 million mt of coal capacity. Accordingly, from the start of 2016 up to the end of June this year, China eliminated more than 400 million mt of coal capacity, accounting for over 50 percent of China’s coal capacity elimination target of 800 million mt for the 2016-20 period.
The NDRC also stated that China’s large and medium-size coal producers achieved an aggregate gross profit of RMB 147.48 billion ($22.14 billion) in the first half of the current year, up by RMB 140.31 billion year on year.