New coal mines with an annual output of below 300,000 tons and coal-gas outburst collieries with output of below 900,000 tons will no longer gain approval, a news agency reported, citing a General Office of the State Council circular.

Due to falling demand, severe overcapacity and restructuring towards cleaner fuel, the coal industry has been stuck in protracted bickering since last year.

Thursday's circular also promised to ease tax burdens on coal producers, strengthen quality checks on imports and improve the exit mechanism to allow swift closure of exhausted mines.


Latest News  from Business News Desk