Coal: Cok­ing deal in works

China Daily (Canada) - - FRONT PAGE -

“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.

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