China's top economic planner summoned China National Coal Association (CNCA) and some key miners on October 22 to discuss and formulate polices to prevent coal mines profiteering and speculating, in a bid to make sure that coal prices will hold steady in a reasonable range in the long run.
The CNCA and mines debriefed the Department of Price of National Development and Reform Commission (NDRC) about the industry status quo, coal production, costs and profits. The meeting also talked over the reasonable price and profit level for coal industry.
The meeting stressed coal enterprises must operate legally and give reasonable offers, and any speculative actions will be severely punished according to laws.
The Department of Price also specified that it sent multiple investigation panels to major coal-producing provinces for field survey, to collect references for reasonable pricing range.
(Writing by Rebecca Liu Editing by Tammy Yang)
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