08 June 2016 at 0:27 GMT
The black rock of Shanxi province fueled China’s industrial revolution, helping forge the steel that built railways, apartment, office towers and factories across the nation and feeding the electricity plants that power them. Now, as the Party looks to growth more reliant on consumers, services and innovation, the landlocked province hosting some of the biggest coalfields the world has ever seen is hitting hard times. Beijing has ordered 500 mln tonnes—or about 9% of China’s coal capacity—to close by 2020 in a decades-long industrial restructuring that will be felt in Shanxi most sharply. Shanxi’s challenge is shared across China’s industrial north: how to shut cash-burning mines that employ millions whose prospects are uncertain in the new economy.
Read full article at Bloomberg