Chinese Regulator Warns about Credit Risks of Coal Companies

Coal prices in China declined by 16% in 2013 as the economy cooled and the government stepped up efforts to curtail air pollution, according to Bloomberg. China is the largest producer and consumer of coal and burns as much coal as the rest of the world combined.  Coal represents 70% of China’s electricity generation, but the government set a goal of reducing that share to 65% by this year, accelerating it from its original 2017 target.China’s GDP expanded at a 7.7% annual rate in the fourth quarter of 2013, a pace that is relatively…

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