Coal hub plans pricing, ownership reforms

The coal hub in North China's Shanxi province is planning new reforms this year, following the central government's pledge to let the market play a decisive role in allocating resources, senior officials said.

"The most important thing is to deepen reform in coal sectors, including advancing price marketization, stepping up reforms of State-owned enterprises and transforming government functions to streamline investment approvals," said provincial Party Chief Yuan Chunqing.

Shanxi is a leading energy base in China, responsible for one-quarter of the country's coal reserves and annual output. But the coal industry in the province last year was under pressure as price drops in the fossil fuel took more than 200 billion yuan ($33 billion) away from the businesses' revenue, Yuan said.