The coal industry in North China's Shanxi province faces mounting pressure to get financing amid slumping coal prices and increasing debts, as experts call for greater freedom for non-governmental financial institutions.

"The performance of China's manufacturing sector has not been very good in recent years," Li Xiaobo, chairman of Taiyuan Iron and Steel Corp, said during a panel discussion at the 12th National People's Congress. "While big companies can manage to get capital, financing difficulties for small-and medium-enterprises are huge.

"Banks should make professional judgments on an enterprise's prospects when determining whether to provide it with loans," he continued.