Coal: Coking deal in works
“The steel-making industry in China mainly rely on importing coking coals from abroad especially Australia. It is important to sustain a stable and longterm supply by exploring more coking coal mines in different ways,” said Li Xinchuang, director of China Metallurgical Industry Planning and Research Institute.
According to the statistics from the National General Administration of China Customs, China imported 20.94 million tons coking coals from Australia between January and September in 2014, taking up 47.2 percent of China’s total import during the period.
China re-imposed tariff on imported coals last October, seen as a policy to save the falling domestic coal industry but posed hardship on foreign companies.
However, experts said because the growing need of coking coal in China, the imported coking coals especially the high-quality products will be welcomed in a long-run.
“Canada has a good investment environment with complete laws to protect the interest of foreign investments,” said Yuan Zhanling, former economic and commercial counselor of the Consulate General of the People’s Republic of China in Vancouver.