No Need of Anyone's help..!? China Project started..?

Sowmiya Sriram
No Need of Anyone's help..!? china Project started..?

Like india, china is heavily dependent on imports of crude oil and coal. This will not only increase the cost of generating electricity but also reduce the value of its currency, causing the foreign exchange to lose more and more to coal. The Chinese government has embarked on a large-scale coal production project, which aims to not only reduce the amount of coal produced in china by importing excess coal, but also to achieve its short-term target. In an important meeting with regions and organizations, the government has set a new target of 300 million tonnes of domestic coal production, which is expected to increase the stockpile of coal to 620 million tonnes by the government, mines, and consumers.

Not only has the price of coal risen sharply in the international market, but the supply of coal has also been affected by the Russia-Ukraine crisis.China relies heavily on coal, the world's most polluting fossil fuel, to build more than 50 percent of its global coal supply. Coal is also a major contributor to the world's leading greenhouse gas emissions.

Currently, China's National Development and Reform Commission has decided to produce 150 million tonnes of coal from new and upgraded sites, 150 million tonnes from some closed mines, and some open production sites. It has set a target to produce an average of 12.6 million tonnes of coal per day.

Coal prices are likely to fall sharply in the next few months, as china captures a large portion of the world's total coal production and currently produces an additional 300 million tonnes a year. This will benefit countries like india that import coal from abroad.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

china coal project

Related Articles: