Banks digging deep to help revamp Shanxi coal sector

Banks in northern China's Shanxi province are actively implementing credit policies designed for the business circumstances of each individual coal mining company - to help drive an aggressive transformation and upgrading of the sector.

The director of the China Banking Regulatory Commission's Shanxi office, Zhang Anshun, said on Tuesday that 21 coal mines in the province would be closed in 2016.

He added that the government would take "coercive measures" to stop unauthorized production and construction work at another 16 coal mines.