What's news

Coal-producing region to cut capacity

China's biggest coal-producing province plans to cut capacity of the polluting fuel as part of the nation's efforts to streamline bloated industries. Shanxi, which produces more coal than any foreign country, aims to cut at least 100 million tons of production capacity by 2020 as overcapacity, falling prices and losses at mining companies hurt its economy, the provincial government said in a statement on its website. The cut accounts for about 8 percent of the northern region's total capacity, according to Leo Wu, an analyst with Guotai Junan Securities Co.

Micro-credit firms extend $144b loans