Coal producers bounce back

Struggling Chinese coal producers have bounced back by posting strong profit growth. Soaring coal prices have boosted their bottom lines after the industry went through a substantial period of downsizing. Combined profits of large coal enterprises with an annual turnover of at least 20 million yuan ($3 million) came at 123.34 billion yuan in the first five months of 2017, a staggering 9,000 percent rise compared to same period a year ago, according to statistics released at a national coal trade fair on Thursday. second- largest economy is Brazil’s most important business ally and Sao Paulo’s largest commercial partner. “Sao Paulo is the largest city in Brazil with a population of 12 million people,” Doria said. “It’s an excellent place for Chinese companies to invest in.”