Chinese enterprises purchase 82.2 million tons of imported coal at the Expo

category:Finance
 Chinese enterprises purchase 82.2 million tons of imported coal at the Expo


Photo source: visual China

Reporter Zhang Hui

During the second China International Import Expo, coal also entered the purchase list of Chinese enterprises.

On November 9, 2019 China coal import summit was held in the National Convention and Exhibition Center (Shanghai). At the meeting, about 20 domestic enterprises including China Huaneng Group, China Datang Group, ruimaotong Supply Chain Management Co., Ltd. and Zhejiang Energy Group signed coal purchase and sale contracts in 2020 with coal enterprises from Australia and Indonesia.

Up to now, the total contracted amount of imported coal has reached 82.2 million tons.

According to the General Administration of customs, China imported 281 million tons of coal in 2018. According to this calculation, the current coal import volume signed at the fair is about 30% of the total import volume last year.

China is the largest coal producer and consumer in the world. According to China Coal Industry Association, in 2018, China produced 3.68 billion tons of coal, accounting for 46% of the worlds total. Coal accounts for 75% and 70% of primary energy production and consumption institutions in the medium and long term respectively.

China is also the worlds largest coal importer. At present, Chinas four major sources of coal import are Indonesia, Australia, Mongolia and Russia.

In order to stabilize the market price of coal and safeguard the interests of domestic coal enterprises, last year, China implemented a horizontal control policy on coal import, limiting the number of coal imports.

Since this year, Chinas coal imports have increased significantly. In January, coal imports reached 33.5 million tons, the highest since January 2014.

According to the latest data released by the General Administration of customs, from January to October this year, China imported 276 million tons of coal, up 9.6% year on year.

Among them, in October, China imported 25.685 million tons of coal, an increase of 11.29% year-on-year, and a decrease of 4.603 million tons, a decrease of 15.2% month on month.

For the overall import situation of Chinas coal in the future, Yang Xianfeng, director of economic operation Department of China Coal Industry Association and director general of China coal transportation and Marketing Association, said that China will still maintain a certain amount of import scale, which can play a complementary and regulatory role in southeast coastal areas and East China.

Chinas annual coal import volume of 200-300 million tons is also an important coal consumption area for Indonesia, Australia, Mongolia, Russia and other coal exporting countries, and an important part of international trade balance. Yang Xianfeng said.

According to Yang Xianfeng, from 1978 to 2019, the mechanization degree of coal mining in Chinas large-scale coal enterprises increased from 32% to 96%; the per capita production efficiency of coal mines in China increased from 137 tons / year to 1000 tons / year.

In addition, at present, China has built 1200 large-scale modern coal mines with an annual output of 1.2 million tons and above, accounting for more than 80% of the countrys coal output; 42 coal mines with an annual output of 670 million tons have been built.

For the future development of Chinas coal industry, Yang Xianfeng suggested that we should promote the transformation of development mode from quantity speed type to quality benefit type, promote the development of modern coal chemical industry, and promote the transformation of coal products from fuel to fuel and raw materials. In addition, we should promote the construction of coal market trading system and promote the transformation from incomplete market to complete market.

At the coal import summit, China coal transportation and marketing association signed memorandum of understanding with Indonesia coal mining association and Mongolia Coal Association respectively.

Source: editor in charge of interface news: Wang Xiaowu NF