China takes measures to stabilize coal prices

Updated: 2010-11-22 14:50
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BEIJING - Chinese authorities have taken measures to check soaring coal prices, directing coal miners and local governments to ensure stable coal prices.

The National Development and Reform Commission (NDRC), China's economic planner, has ordered coal producers to boost self-discipline, NDRC sources told Xinhua Monday.

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The NDRC has also ordered local governments not to restrict sales of coal outside their province.

Coal prices have jumped in China recently and shortages of the fuel have occurred in some areas.

"Domestic coal prices are now higher than the international price due to the high profits of domestic coal producers. Some power-generators had to import coal," the source said.

Some local governments restricted coal sales amid efforts to integrate coal resources, the source added.

Some local governments even sought to require those transporting coal out of their province to first receive permission do so, the source said.

China has been integrating coal resources to boost safety, closing substandard coal mines and merging small ones.