China's coal industry develops moderately

China's coal industry developed moderately in the first half of this year despite of the imposition of the collection of funds for sustainable development earlier this year.

This was confirmed by major coal enterprises of Shanxi Guoyang New Energy Co., Ltd, Xishan Coal and Electricity Power Group and Shanxi Lanhua Sci-tech venture in Shanxi, one of China's leading coal producers, in their recently published semiyearly reports.

Guoyang New Energy specializes in anthracite coal. Its main operating revenue in the first half of this year increased 18.03 percent year on year, and its sales went up 15.12 percent.

Xishan Coal and Electricity Power Group produced 8.2264 million tons of raw coal in January-June, up 4.95 percent year on year.

It paid the funds for sustainable development totaling 75.67 million yuan, and its net profit was up 15 percent year on year.

Because of hot sales of pulverized coal, a main product of Lanhua Sci-tech Venture, the company's net profit also climbed up.

Shanxi province sells 40 percent of the nation's total coal products. The rise of Shanxi's coal production cost is likely to result in the rise in coal price nationwide.