China needs to step up establishment of a coalmine market-exit mechanism amid overcapacity in the coal industry, said Wang Xianzheng, head of China National Coal Association (CNCA).
During 2016-2020, China's coal industry would target to prioritize existing coal production capacity, control newly added capacity, digest excessive capacity and eliminate outdated capacity, said Wang.
Wang also suggested major coal production provinces make detailed policies for coalmine exit mechanism and set de-capacity scale.
CNCA has drafted a proposal on forming a market-exit mechanism for coalmines.
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