China to achieve coal capacity cut target next year

China is likely to achieve its goal of reducing coal capacity by 500 million metric tons well ahead of the planned three to five years target, according to a top industry official.

Jiang Zhimin, vice-president of China National Coal Association, said the country will meet the coal capacity reduction goal next year. By the end of this year, the number of coal mines in China will drop to about 7,000 from 10,800 in 2015, he said at a forum hosted by the China Metallurgical Industry Planning and Research Institute recently.

In 2016, China cut coal capacity by more than 290 million tons. This year's target was 150 million tons, which was accomplished in November, according to the National Bureau of Statistics.