Punching a big hole in coal

Resource-rich Chinese provinces like Shaanxi and Shanxi have rolled out their own measures to cut coal output as the country goes about shuttering loss-making "zombie companies" in the glut-marked industry.

Over the next five years, Shaanxi plans to shut 76 coal mines and cut output by 47 million tons per year, said Wang Weihua, head of the Department of Land and Resources of Shaanxi province, during a meeting.

He said it shows the local government's determination to cut overcapacity in the coal sector. Coal companies are helping implement the plan.