Shanxi province's coal transformation development has undergone new changes since last year. The non-coal industry has become an important part and driving force of the coal economy in the province.
According to statistics, non-coal investment in fixed assets was 56.2 billion yuan ($9.06 billion) and non-coal revenue exceeded 1.1 trillion yuan in 2014, a growth of 75.04 billion yuan or 7.19 percent year-on-year. The structure of coal industry investment in fixed assets of Shanxi province was further optimized in the past year.
The increasing investment in non-coal industries was considered a signal for Shanxi’s transformation and upgrading, according to opinions from insiders.
When the coal market is in recession, the newly-emerging non-coal industries have become an important force to stabilize Shanxi's industrial economic growth.
Shanxi has deeply promoted four industrial chains in the coal industry in 2014, namely the chain integrating coal and electricity, the integration of the coal and coke industry chain, the integration of the coal and gas coal industry chain, and the integration of the coal and liquid industry chain.
Shanxi will keep focus on the development of coal derivatives industries and non-coal energy in 2015, said the coal authorities of Shanxi province. The province is striving to build a comprehensive energy industrial system that integrates coal, electric power, coal gas, coal chemical industry, new energy and renewable energy.
Shanxi province will also give full play to its advantages in capital, management and innovation to develop transformative industries such as coal machine manufacturing, coal finance and coal culture.
Edited by Michael Thai
