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Wednesday, February 29, 2012

China coal consumption continues to rise

Wednesday, 29 Feb 2012

According to the China Electricity Council, China coal demand will reach 4.3 billion tons by 2015 an increase of 970 million tons compared to the year 2010 and an annual increase of 5.2%.

An expert told the paper that as the cost of coal supply and labor increases and the coal resource tax rises, China may see higher coal prices and shortage in supply during the 12th Five-Year Plan period.

The paper cited an official with the Ministry of Industry and Information Technology that resource shortages may affect the nation economic development.

In 2011, China consumed 3.7 billion tons of coal with domestic coal output of 3.52 billion tons and imports of 170 million tons. The amount was almost half of the world's total coal consumption.

(Sourced from Shanghai Securities News)

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