The Chinese central government has summoned several provincial authorities in the north of the country in a bid stabilise coal price levels.
On 22 February the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) conducted a regulatory meeting with local coal authorities in the northern provinces of Shaanxi, Shanxi and Inner Mongolia, as well as with some local enterprises and coal price indexing bodies.
Authorities said that the purpose of the meeting was to “analyse current coal market prices; research and standardise coal price index sampling and issuance, and stabilise coal market prices,” as well as “further effectively undertake deployments for work to stabilise coal prices.”
“The relevant local authorities must continue to effectively perform work for the stabilisation of coal prices while standing on the heights of political discussion,” said the meeting.
“(They) must drive coal producing enterprises and trading enterprises within their jurisdictions to strictly abide by the requirements of national policy, and actively stabilise coal prices with a view towards long-term development.”