China coal imports top exports
Despite being the world’s largest coal producer, China saw its coal imports jump sharply in the first quarter and surpass exports for the first time ever.
The China Daily reported Thursday the higher imports were due to the country’s continuing double-digit economic growth. The report quoted experts as saying the situation also stems from government policies to streamline the accident-plagued coal industry and protect domestic energy resources.
In the first quarter of this year imports totaled 14.3 million tons, up 60.4 percent from the same period last year. Exports, on the other hand, fell 32 percent in the same period to 11.42 million tons, the report said.
“China may see a pure coal import this year and the domestic coal price has room for further inflation,” said Zhao Jianian of the Coal Industry Economic Research Association.
The report said China produced 2.38 billion tons of coal and consumed 2.37 billion tons in 206. Consumption is expected to rise to 2.87 billion tons in 2010, while production is expected to reach 2.6 billion tons during the same period.
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