Wang Xianzheng, chairman of the China Coal Industry Association, this week warned that over 70% of China’s coal firms are loss-making, Reuters reported, citing state media. Wang told an industry forum that the problems facing the coal sector were expected to get worse, Xinhua reported. As part of its war on pollution, China has been trying to reduce the share of coal in its overall energy mix. Wang said the problems had been piling up for the sector since the second half of 2012, with slowing consumption growth unable to absorb sustained capacity increases, especially in the face of rising imports.
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