China Trade Information

China will build a national coal exchange in three to five years to allow sellers and buyers to negotiate prices in a more free way than the previous government-regulated pricing, said the country’s top economic planner Wednesday.

The National Development and Reform Commission expected the exchange to handle both term contracts and spot trading, and will use an electronic trading platform, it said in a statement on its Web site.

The NDRC also said the government will still intervene in the exchange if needed by the economy. The main responsibilities of the government is to forecast and coordinate coal production, transportation and demand, organize and guide the construction of the exchange center, meanwhile supervise its daily operation and regularize the coal trading.

The NDRC Tuesday held a videoconference on 2008 China Coal Production, Transportation and Demand in Beijing, urging coal producers to sign term contracts with main users as soon as possible.

Tags: coal, NDRC

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