Coal is critical to the security of the country, and the implementation of restructuring is a key issue.

　　 The rapid development of large-scale, reorganization of supply and demand has a long-term view.

　　 [Global Network reporter Xu Na] Since the reform and opening up, my country's coal industry has achieved world-renowned reform and development achievements. The country’s cumulative production of coal is approximately 74 billion tons, providing more than 70% of primary energy for the country’s economic and social development, and supporting the rapid growth of my country’s GDP from 367.9 billion yuan in 1978 to 82.7 trillion yuan in 2017. The coal economic system has been transformed from a planned economy to a market economy, the industrial structure has been significantly optimized, and the coal industry’s productivity level has achieved leapfrog development and substantial improvement, laying a solid foundation for the healthy and sustainable development of the coal industry.

The picture shows a miner in the 1980s. It was taken in the Yankuang Group of Shandong in the 1980s. Underground coal miners are resting. Image source: Visual China

　　 Coal is vital to national security: the stage of deepening reform of the coal industry

After the Third Plenary Session of the Eleventh Central Committee of the Communist Party of China decided to shift the focus of work, the coal industry, in accordance with the spirit of "giving full play to the enthusiasm of the central and local governments, big, medium and small together", vigorously developed coal production, concentrated implementation of industry adjustments, comprehensively carried out corporate rectification, and restored soundness. Various rules and regulations have been alleviated, and the tight situation of coal supply and demand has been eased.

　　 Since 1985, the country has designated a number of key coal enterprises in major coal-producing provinces (regions), and the entire industry has implemented six-year input-output general contracting and two-year continued contracting. At this stage, the state grants coal enterprises partial self-management rights.

In 1987, the former Ministry of Coal formulated the "Supplementary Measures for Deepening the Reform of Integrated Coal Mines and Other Key Enterprises", which further implemented the contracting tasks and responsibilities for the next three years; added the contract content to ensure normal continuity and good fixed assets; regulations A variety of contracting forms can be realized within the enterprise; the competition mechanism is introduced into the contracting, and the competition produces operators; the income of the contractor is linked to the operating effect.

The picture shows Pingshuo Coal Mine. Image source: Visual China

Carrying out restructuring and tackling tough problems: the coal industry realizes the stage of corporate restructuring

　　 From 1991 to 1992, the contract was continued for two years, and the main financial indicators were contracted, focusing on the implementation of the profit and loss contract indicators to curb the increase in losses. In 1992, it achieved the first loss reduction since the general contracting. In the same year, the state lifted the unplanned coal price restrictions, liberalized the restrictions on the guiding planned coal, directional coal, and super-yield coal. Coal accounts for nearly half of the total.

　　 In July 1994, the state abolished the unified planned coal price. Except for the government-guided price for electricity coal, all other coals were liberalized, and enterprises set their own prices according to market needs.

　　 In 1995, the coal industry began a pilot program of corporate reform. Yanzhou, Xingtai, Zhengzhou, Panjiang, Pingdingshan Mining Bureau and Pingshuo Coal Mine are included in 100 pilot units. my country's coal enterprises have begun to explore the establishment of a modern enterprise system for the establishment of modern coal enterprises and better participation by coal enterprises. Marketization has created conditions.

　　 In 1998, in order to help coal companies achieve marketization, the State Council reformed the coal management system, decentralized key state-owned coal mines directly under the former Ministry of Coal, and promoted the separation of government and enterprises. The number of small coal mines nationwide decreased from more than 80,000 in 1998 to about 22,000 in 2001. The cumulative number of small coal mines closed accounted for 73% of the total, which increased the industrial concentration and eased the oversupply of coal to a certain extent. Contradiction.

The picture shows the Sichuan Safety Production Committee, Sichuan Safety Production Supervision Administration, and Sichuan Coal Mine Safety Supervision Bureau. Image source: Visual China

　　 Rapid development and scale: the coal industry has entered a stage of extraordinary rapid development

After the Third Plenary Session of the 16th Central Committee, the state further reformed the coal investment system, changed the coal mine approval system to the approval system, established and improved the state-owned assets supervision system, implemented the system of paid use of resources, reformed the coal ordering meeting system, implemented coal and electricity price linkage, and market The basic role of resource allocation is gradually brought into play.

In terms of coal mine safety production, through the comprehensive implementation of gas control and rectification and closure of the two tough battles, increase coal mine safety investment, make up coal mine safety debts, improve safety protection, and close small coal mines that do not meet safety production conditions to achieve coal mine safety. The production situation has improved steadily.

　　 In January 2000, the State Coal Mine Safety Supervision Administration was formally established.

　　 In March 2000, the State Coal Industry Bureau was abolished and related administrative functions were merged into the State Economic and Trade Commission.

　　 In March 2003, the State Economic and Trade Commission was abolished, and the Energy Bureau was established under the National Development and Reform Commission, which is responsible for formulating the medium and long-term development policy of my country's coal industry.

　　 As of the end of 2008, there were 28 listed coal companies nationwide with 31 stocks issued. Among them, Yanzhou Coal, China Shenhua, and China Coal Energy are simultaneously listed overseas and on the Shanghai Stock Exchange. In addition, with the acceleration of the construction of large modern coal mines across the country, the average single well size of coal mines has greatly increased, the number of coal mines has been greatly reduced, and the concentration of coal production has increased significantly.

The picture shows the integrated 2x660,000 kilowatt power plant of Guodian Hami Dananhu Coal and Electricity that has been connected to the grid on November 17, 2015. Image source: Visual China

　　 Reorganizing supply and demand and looking ahead: the coal industry deepens supply-side structural reforms

Since the 18th National Congress of the Communist Party of China, various regions and departments have focused on advancing the supply-side structural reforms, fully implementing the five tasks of reducing capacity, destocking, deleveraging, reducing costs, and making up for shortcomings, and strive to improve the quality of the supply system and supply-side structure Substantial progress has been made in the reform of the market, and the relationship between market supply and demand has improved significantly.

　　 In December 2012, the General Office of the State Council issued the "Guiding Opinions on Deepening the Market Reform of Thermal Coal" (Guobanfa [2012] No. 57), canceling key contracts and realizing the integration of thermal coal prices.

　　 Since 2016, my country has cumulatively reduced coal production capacity by more than 500 million tons. With the continuous advancement of capacity reduction, the operation situation of the coal industry has improved. The coal structure adjustment has achieved remarkable results. The output of 14 large coal bases accounted for 94.3% of the national output, the output of 8 billion-ton provinces and regions accounted for 86.8% of the national output, and the output of the top 8 coal enterprises accounted for 39% of the national output. Coal is stable. Increased supply guarantee capabilities.

In addition, with the in-depth advancement of the “Belt and Road” construction in the coal industry and the continuous expansion of coal enterprises’ “going out” space, my country’s coal industry has undergone positive changes, such as structural optimization, industry profits rebound, and extensive use of industry-finance integration Facilitate new actions in the real economy.

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