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Hebei

Province cuts into coal overcapacity

The province has reduced its coal overcapacity by more than 12.9 million metric tons through a public resources trading platform last year, local authorities said. Since Hebei included coal capacity in the provincial public resources trading platform, retail investors can trade their excess coal capacity with companies under the guidance and supervision of the local government. Currently, coal capacity trading volume has reached about 2.06 billion yuan ($300 million) in Hebei, involving 60 coal mines whose production has been halted over their failure to upgrade their facilities to meet provincial standards and other reasons.